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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 19, 1974, Lethbridge, Alberta TuMday, March 19, LETHbrilDQE HERALD-19 The Herald Business Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Dougherty Limited WESTERN West Airlines 9.00 AND Oilfield Serv 6.00 Afton Inc 3.75 Albany Oil Trust 27.50 7.00 5.12% Ashland 7.75 Alta East Cdn Sd Proc 3.90 BP Minerals 1.32 Brenda Mines A Pfd 60.12% Can Yukon 9.00 Cdn Exp LINE STOCKS Cdn Gas Line A 13.00 Cdn Ind Gas Line Pfd 63.00 Cdn Long Nat Gas 19.50 Nat Gas 9.50 Cdn Metro 6.25 Dome Metro A Pfd 65.00 and C Gas 12.75 Fort Giant Gibraltar .72 Oils .10 Great Continental .02 Gt Cdn Oil Warner .40 Lochiel Lytton Noble Explor .30 North Cdn Norse 1.30 3.20 Pancdn .71 Pan Ocean Varden .46 Res .15 8.45 Place Mines 3.50 .11 Ranger .12% Scurry Standard 2.25 Copper 8.25 Total Brew 2.75 Ulster Industries .18 United 1.80 WC West Pete .54 Pete .22 Explor 1.14 Acres Intl Res .77 FUNDS B.C. Sug A, Cdn Compound 6.64 7.22 Block Cdn Dividend 6.96 7.57 Cdn Pac Inv A Cdn Ventures 3.50 3.80 Com Capital Grow F s 4.72 5.19 Carling O'Keefe A Special 2.52 Carling O'Keefe B Invest F 5.12 5.62 Crestbrook For Mutual 5.31 5.83 Crbwshest Inter 14.08 Falconbridge Copper F and M Trust Leverage 3.34 Com Venture 6.00 Invest 6.48 7.12 Glob Com Invest S F 4.94 5.43 Home Oil F US 10.93 11.98 Home Oil Income Shares 3.11 3.42 Hud Bay Equity 7.61 8.36 Hud Bay Grow F 12.57 13.74 Hud Bay Oil A Mutual 5.95 6.50 Hugh Rus C Accum 6.18 6.79 Husky Grow F 3.20 3.53 Husky Oil B Resources 5.09 5.59 Husky Oil D 5.64 6.20 Husky Oil E Growth 4.79 5.26 Hys of 4.91 5.06 Int Pro Pipe Mutual 7.67 8.39 Int Pro 6.91 7.19 Kaiser Growth 7.76 8.51 Kaiser Res Accum 4.69 5.15 Loblaw C Savings 8.14 8.96 5.88 6.46 Pacific 6.27 6.87 Toronto mines, industrials (Supplied by Richardson Securities of Cawda) Acme Advocate Asb. Akaitcho 1.55 2.35 Forest BC Sugar Bow Valley Ind H Bethlehem Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat. Chimo Conwest Cons. Rambler Com 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 Hollmger Hudson Bay Hydra Ex. Iron 1.98 5.25 7.62% 3.70 10.75 1.00 1.08 4.90 3.10 .26 2.05 5.87% 9.00 48.00 .43 167.00 1.94 8.87% 3.35 62.00 .31% .67 21.00 2.81 41.75 26.12% 1.14 O'Keefe Chemcell Cdn Cellulose Cal Power Coron Credit CWN Gas Pfd Cdn Industries Cdn Marconi Cdn Vickers Chrysler CPR Cominco Cons Bathurst Cons Gas Dist Seagrams Dom Bridge Dorhtar Dom Textile Dom Stores Dome Pete Dofasco Glen Mobile Great Cdn Oil Gen Motors Grt Lakes Paper Gulf Oil Greyhound Hawker Sid Hiram Walker Iso Joliet Quebec Kerr .24 15.00 Erie Imperial Tobacco imasca Labrador Lake Shore Langis 39.37% 6.75 Nickel Int Pipe Inv Group A II t Intl Madsen R.L. Malartic ini i Indust Accept Martin McNeely Maclntyre 55.00 Kelly Doug A Laurentide Midnm intern Mogul Nu West Homes New Athona New Calumet Noranda Northgate Noriex Pine Point Placer Dev. Pax Exp. Quebec 10.25 11.62% .31 .32 52.12% 7.00 35.37% 24.75 Loblaw A Metropolitan Massey Ferg McMillan Bloed Moore Corp Molsons A MotsonsB Nachurs North Cent Power Corp Price Co Rayrock Radiore Rio Algom Roman Corp. Shemtt Gordon Steep Rock Sunrnngdate Tek Corp. Texmont A United Canso Western Mines WH Copper Mines Wriohl Hargreaves Wfflroy Windfall YefHowknfle Bear .31 34.62% 12.25 14.25 2.25 4.60 .26 18.62% 3.15 3.70 255 1.61 .14 4.70 ShenCDA Simpsons Simp Sears Steel Canada Selkirk A Texaco Traders Group A Trans Mtn Pipe Trans Can Pipe Union Carbide Union Gas Union Oil United Sjscoe Versatile Mfg Westeel COn Seed Alcan Algoma BANKS AJco Jnd Imperial Montreal Agra Scotia Brascan BC 16.75 20.87 Vi 21.75 30.50 15.75 10.75 3.55 6.87VJ 24.50 2.40 10.25 20.00 3.65 17.50 18.25 16.87V4 32.37% 27.12V4 17.25 44.25 41.75 27.75 10.87% 14.25 41.50 31.75 6.25 10.00 50.50 25.25 36.12% 17.00 6.75 54.00 29.50 32.25 35.12% 21.37% 8.50' 19.12% 18.75 4.30 5.12% 10.25 3.95 6.50 15.00 1830 32.25 50.25 23.12% 22.25 8.62% 12.75 12.25 1650 8.12% 14.25 19.62% 9.00 33.25 13.75 4850 1650 15.62% 31.00 17.75 10.12% 1350 9.37% 8.12% 22.00 22.75 24.12% X90 2.70 30.00 2050 3975 40.25 New York (Supplied fcy Rlchu4sM SecwM Aim. TST Anaconda Beth. Steel Chrysrtet Comsat Motors Gtrtl ml. Harvester ffenn. Copper Montgomery Ward Eyxon Texas Gtffl Texas Co. Wx 52 00 Woobiwth 18.37% 2650 Westingtiouse Bee. 22.12% 3362% U.S. 42.75 16.75 Gen. Tel. Dec. 25.00 35.25 TORONTO AVERAGES 16750 iO Industrials 22350 Oown 1.48 SO Golds 551.20 up 21.20 22.87% 10 Base Metals 10546 wp .49 28 25 IS Western Otis 285.79 down 2.77 38.62% Volume 25 12% NEW YORK AVERAGES 86 62% 20 Industrials 969 99 down 422 84 87% 10 Rails down .07 3350 IS UtSrtWS 92.37 down ,36 29.12% 65 Stocks 276.16 down .91 15.75 VtOome Industrial issues off sharply Strong gain in TSE gold stocks Easy does it A locomotive chassis, similar to the 30 units sold to Cuba, is. gingerly lowered on its foundation at the Montreal plant of MLW-Worthington. The con- tract is valued at million. Higher income taxes declared by corporations OTTAWA (CP) Corporations declared a total of billion in income taxes for the 1971 tax year, an increase of 10 per cent over the year before, Statistics Canada said Monday. Tenders called for coal probe EDMONTgN_4CP) The Alberta Council has called for tenders to begin the first phase of a three-year program to estimate the reserves and quality of Alberta's central plains coal. The program planned for this summer will involve drilling about 100 holes to a maximum depth of feet. Dr. Robert Green of the research council said Monday. The drilling will investigate thermal coal zones between Drumheller and Whitecourt and will involve drilling one hole per township, Dr. Green said. The initial program will cost about Programs of similar magnitude are planned for 1975 and 1976. The coal zone to be investigated is the same as that currently being mined around Lake Wabamun. This zone dips to depths greater than feet below the surface in the western part of the province. The Energy Resources Conservation Board estimates that future power plant demand will make mining economic to the level. The program is the first major effort to' assess the deeper Dr. Green said. Coal exploration drilling in the plains of Alberta until now has been restricted to 100- 150 feet. The 1974 drilling program is to provide a general outline of the coal reserves. Later exploration will be required to provide detailed information on the reserves. Rail line subsidies examined EDMONTON (CP) The Alberta agriculture department is examining whether the CNR and CP rail owe some money for federal rail line subsidies they did not use. Agriculture Minister Hugh Homer told the legislature Monday that railways receive federal subsidies to keep open certain lines they would like to abandon. However, some lines have remained idle this winter because of snow. The departmental examination will centre on methods to speed up grain deliveries. Dr. Homer told Catherine Chichak (PC Edmonton The rise, in a year of economic recovery, compared with a decline of million in 1970, the report said. A total of active corporations were included in the report for 1971, of which 115.000 showed a base taxable income five per cent greater than the previous year, it added. "Some three-quarters of total corporate income taxes, million, was payable to the federal government, an increase of million or nine per cent -over the previous year income taxes payable to the provinces in 1971 totalled million of which milliori accrued to Ontario and the report said. "Taxable income climbed to billion and was 12 per cent higher than Statistics Canada said. "A faster rate of increase of federal income taxes, which ordinarily accompanies a period of rapid growth, was considerably moderated by the impact of two changes in the 1971 tax rates, both effective July 1 of that year." "These 'were the elimination of the three-per- cent federal surtax, announced in the June budget, and a corporate income tax reduction of seven per cent, announced in October as part of measures taken to increase it said. "It is estimated that the effect of these tax cuts was to reduce federal income taxes by more than million for corporations with fiscal years ending in it added. Lougheed queried on gas pipeline EDMONTON (CP) Premier Peter Lougheed said Monday it would not be appropriate for Alberta to endorse a specific application to the National Energy Board by any group seeking to build a MacKenzte valley natural gas pipeline. But he told the legislature the government supports a project to ship natural gas to southern markets provided that native rights and the environment are protected. The premier was responding to questions from Bob Clark, Social Credit House leader, asking if the government plans to endorse the application by Canadian Gas Arctic Study Ltd. to build a pipeline that would run through Alberta. The application will be made later this month. Mr. Lougheed added he has not seen the specific terms of the application Environment Minister Bill Yurko said the consortium has been advised that an environmental impact study would be necessary and that the province would have the final decision on the location of the pipeline. TORONTO (CP) Gold snares on the Toronto stock market recorded strong gains in moderate mid-morning MONTREAL (CP) All sectors moved lower in moderate trading on the Montreal Stock Exchange today. Volume at 11 a.m. was shares, 'compared with at the same time Monday. Banks, fell 2.81 to 287.31, industrials 1.83 to 248.91, the composite 1.69 to 233.34, utilities .64 to 149.47 and papers .49 to 141.68. Falconbridge Nickel Mines fell 2% to Fairview Corp. to 124Vz, International Nickel to Consolidated Bathurst to Canadian Imperial Bank of Commerce V2 to and Dome Petroleum to Among speculative issues, Massval Mines rose eight cents to 68 cents on a volume of shares traded. VANCOUVER (CP) Prices were down in light trading Monday on the Vancouver Stock Exchange. Volume at the close was In the industrials, Thermo Plex was down .05 at .50 on volume of shares. Jolly Jumper was down .05 at on 10.800. Newmark Resources was down .04 at on Pace Industries was down .04 at .65 on Great National Land was unchanged at .97 and Block Bros, was down .05 at In the mines, Alice Lake was unchanged at .29 on volume of Pine Lake was down .02 at .15 on Kalco Valley was unchanged at 15V2 on Henrietta. Mines was down a half-cent at on Consolidated Fortune Channel was down .01 at .35 and Whipsaw was up .02 at 52. In the oils, Payette River was down 13 at .46 on volume of Currencies MONTREAL (CP) Tuesday's mid-day foreign exchange selling rates supplier! by the Bank of Montreal: Australia dollar 1.46 Bermuda dollar 1.01 China renminbi .4920 Denmark kroner .1590 France franc financial .2060 Germany mark .3730 Italy lira commercial .001570 Japan yen .003500 Mexico peso .9790 Spain peseta .9170 Sweden kroner .2140 Switzerland franc .3190 United States dollar .9750 United Kingdom pound 2.30 U.S.S.R. ruble 1.2523 Quotations in Canadian funds. trading today, but industrials were off sharply for the third day. The gold index was up 19.9 Market trends Davenport was down .08 at .77 on Princess Ventures was down .03 at 20 on 14.000, Rose Pass was unchanged at .51 on Chapparal was down .01 at .08 and Vargas was down at .13Vz. Winnipeg grain WINNIPEG (CP) scarcity of buyers in most commodities caused a moderation of prices at mid-session today on the Winnipeg Commodity Exchange. Rapeseed, which had opened substantially higher, was mixed with prices ranging from one lower to higher. Trade was modest. Flax continued strong price-wise, but there was virtually no trade. Rye was the most active of the commodities, with prices ranging from unchanged to three higher. Almost all trading was in near months. Monday's volume of trade was 411.000 bushels flax, of rapeseed and of rye. Mid-session prices: Flax: .May 20 higher 11.53A; July 13 higher ll.OSA: Oct. 12 higher 10.32B, Nov. unchanged 9.83B. Rapeseed Vancouver: March 1 lower 7.35A; June higher 7.03Vi; Sept. 5V4 higher 6.80VzA; Nov. 2 higher 6.45B; Jan. 2 higher 6.40B. Rapeseed Thunder Bay: May 2% higher 7.04A; July 4 higher 6.79; Oct. unchanged 6.42B; Nov. unchanged 6.40A: Dec. unchanged 6.19B. Rye: May 3 higher 328A; July 1% higher 3.19B; Oct. unchanged 2.97B: Dec. unchanged 2.87B. Grain quotes Monday basis Lakehead: High Low Close Flax May 1133 1088 1122 Jly 1093 1032 1093 Oct 1020 1010 1020 Nov 883 Rapeseed Vancouver Mar 736 700 736 Jun 672% Sep 675V4 Nov 643 Jari 638 Rapeseed Thunder Bay May 692 701'A Jly 675 671 675 Oct 642 Nov 640 617 640 Dec 619 Rye May 325 313 325 Jly 305 Oct 297 Dec 287 Tax tips For' further' information, call the District Taxation Office. If you live in a toll area, ask your long-distance operator for ZENITH 0-4000 and your call will be placed without charge. Q. I am now receiving pension payments from the Canada Pension Plan. Is the money I receive taxable, and should I include it when I report my income? A. Yes, the income you are now receiving from the Canada Pension Plan is taxable and should be reported on your income tax return. Q. My wife and I were married in September. She was working before marriage but has not worked since. Can I claim the full married exemption of for her? What does she do about filing a return? A. If she received no income after your marriage, you may claim the full married exemption of Otherwise, calculate your exemption taking into account only the income she received after your marriage. If your wife is taxable or had tax deducted from her salary, she must file her own return. Q. My nephew, aged 15, came to live with me last year when his parents were killed in an auto accident Although I have not been appointed as his legal guardian, and no papers have been signed, he is totally dependent on me. Can I claim him as a dependent on my income tax form? A. Yes. The fact that you have not been appointed his legal guardian would not bar you from claiming your nephew as dependent if he otherwise qualified. Q. Last year my wife and I decided to assist a child who lives in country. We send regular payments for this child to receive food, clothing and education under a foster parents plan. We have not adopted this youngster, but I am wondering if I claim the child as a dependent on my income tax return, or claim the money I send to her as a charitable donation? A. You may not claim the child as a dependent as you did not have custody or control over the youngster. However, payments made in the year to the Foster Parents Plan Of Canada are eligible for deduction as charitable donations when supported by proper receipts. Q. We had a baby last year who only lived a few hours. Can we make any tax claim for her? A. Yes. if a child is born in the year and lives, you may claim the child as a dependant for a exemption. Q. I have been claiming my children as exemptions on my tax return. Can my wife claim the medical expenses paid on their behalf, on her tax return? A. Medical expenses can be allowed only to the person who claims the dependent for the year when the expense was incurred. Q. As an employer, I made the proper deductions for income tax, Canada Pension Plan and Unemployment Insurance, but I misplaced my remittance form PD7A. How should I make my remittance for the deductions? A. Your remittance should be forwarded to the Taxation Data Centre. Ottawa, with your employer's number outlining the pay period covered and the breakdown of the applicable deductions. to 549.89 in response'to rising gold prices and base metals .78 to 106.15. The industrial index, considered the main NEW YORK (AP) The stock market steadied today after a sharp drop in early trading. The noon Dow Jones average was off 4.85 at 869.37. recovering from a decline of better than seven points in the first hour. Losers led gainers by about 5-to-2 on the New York Stock Exchange. Brokers said that with the Arab oil embargo ended, the market was turning its attention to such other concerns as inflation and the trend in interest rates. General Electric, down at was the most active stock. Other issues on the active list included Walt Disney Production, down Vi at Ramada Inns V8 at and General Motors at 'Brokers said these stocks and others with links to oil supplies were en- countering profit taking after Monday's announcement of the end of the Arab embargo. Medenco was up "2 at after a delayed opening. The company projected a substantial earnings increase this year and withdrew its registration for an offering of common shares. Among Canadian issues, Dome Mines rose 53.4 to while Alcan dropped to and Inco to Vi. Chicago markets CHICAGO (AP) Lifting of the Arab oil embargo against the United States had a questionable effect on some commodity futures Monday. On the Board of Trade, grain futures turned sharply lower on the embargo news, but nearly all improved in the closing minutes under short-covering. Some corn, oats and soybean oil options closed with limit gains. All the so-cailed perishable commodities on the Chicago Mercantile Exchange declined. Before the wide price swings had set in on the board of trade, wheat was under selling pressure and corn was actively bought as a result of an export commitments report disappointing on wheat, but favoring corn.. New export business in edible oils and improved cash influenced price movements in the soybean complex. Grain quotations Monday: Wheat- Mar 5.16: May 5.06; Jul 4.68: Sep 4.66. Dec 4.67. Corn: Mar2.96. May Jul3.04; Sep Dec Oats. Mar 1.38: May 1.42; Jul 1.45: Sept 1.49; Dec Dividends By THE CANADIAN PRESS Dividends are quarterly unless otherwise noted. B.C. Sugar Refinery Ltd., class A, 25 cents: Class, B, 21 cents; both payable April 30, record April 5. Bow Valley Industries, pfd.. series A. 27% cents, April 15, record March 29. Inland Natural Gas Co. Ltd., 5-per- cent pfd.. 25 cents, April 15, record March 29. Investment Foundation Ltd., 60 cents, plus year end extra of 30 cents, April 30. record April 15. National Sea Products Ltd., class A convertible, 16 cents; class B convertible, 13.6 cents; both payable April 16. record March 29. Gold futures WINNIPEG (CP) Gold futures. U.S funds. Winnipeg Commodity Exchange close Monday. Apr 74 165.50B: Jly 74 172.50: Oct 74 178.70B. Jan 75 185.00; Apr 75 191.40B. Friday's volume: 146 contracts. Best futures WINNIPEG (CP) Live beef futures close Monday. Mar 47.40B: May 52.30A: Jly 52.90A: Sep 54.50N. Friday's volume: Four contracts. indicator of market trend, fell 1.57 to 223.39 and western oils 2.46 to 266.10. Volume by lla.m. was 1.15 million shares, up from at the same time Monday. Declines outnumbered ad- vances 186 to 108 with 216 issues unchanged. Among golds, Pamour rose to Camflo to Sigma Vz to and Dickenson to Canadian Tire A fell 1 to Vi, General Motors 1 to Maple Leaf Mills to .Home Oil A to and Quebec telephone Vz to f Hudson Bay Mining was off to Numac Oil to Chieftain to and Sunningdale to Western Supply A rose Vz to Vz, Na-Churs International to and Peoples Jewellers A to Canada Geothermal was up five cents to Livestock Calgary CALGARY (CP) Receipts to 11 a.m. today from the Calgary Public Stockyards totalled about head, mostly slaughter steers and heifers. Due to the late commencement of the sale, there were insufficient cattle sold by report time to establish quota- tions. Hogs f.o.b. Calgary to 11 a.m. average base price 40.40. Lethbridge There were no cattle sales Monday at the Lethbridge due to the weekly sale of weaner and feeder hogs. Sales hogs. All classes of weaner and feeder hogs meeting only fair demand. Prices steady to lower. Weaners 12 to Light feeders under 100 Ibs. 20.50 to 26V4. Heavy feeders 100 to 130 Ibs. 31 to All prices per head. Light feeders under 100 Ibs. sold from 26 V4 to cwt. Heavy feeders over 100 Ibs. sold from 29.75 to 33.50 cwt. Bred sows and gilts 70 to Boars 62 50 to per head. Butcher hogs sold Monday at the Lethbridge yards 41.05 to 41.30 base price. One load of hogs sold for export at 32.30 liveweighL Hog prices EDMONTON (CP) Average prices to 11 a.m Tuesday provided bv the Alberta-Hog Producers Marketing Board. Monday prices in brackets: Edmonton: 40.40 (41.701. Calgary: 40.40 Red Deer: 40L25 Grande Prairie: 39.35 Lloydminster: Nil Fairview: Nil (40 Lethbridge: Nil Total hogs sold Monday average 41.54. Sows average 30.50. Metals LONDON (AP) Closing metals bid-ask in pounds sterling a metric ton: silver in pence a troy ounce: futures 1.125-1.126 Tin-Spot 3.555-3.565: futures 3.510 313-314: futures 318-319 Zinc-Spot 710-714: futures 650452 Silver Spot 236.5-237.5: 3 months 247-247.5 Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon today was up 3-100 at 43-50. Pound sterling was up 1-25 at 17-20. In New York, the Canadian dollar was up 3-100 at 4350. Pound sterling was up MO at 7-20. AWARD PRESENTATION Recently United Mobile Home received the Top 5 Dealers Award for their 1973 Sales record from Knight-Schmidt Industries. Pictured above are Mr. K. Tolley (right) sales manager making presentation to Mr. Greg Forsyth, Sales Manager of United Mobile Home. Knight-Schmidt congratulates United on their high sales performance and invites Southern Alberta to come out and see the better built KNIGHT. SQUIRE AND PAGE mobile homes at the UWVNi iw I VtH Greatest Show on Wheels Lethbridge Exhibition Pavilions to March 23rd ;