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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - March 23, 1973, Lethbridge, Alberta IIHIIi�iIS;S:: iftiiiiiiisi^ Market continues downward slide TORONTO (CP) -The To. 25.28 and Industrials .39 to ronto stock market continued to 237.41. drift lower as prices in most On the Montreal Stock Ex-major sectors suffered declines change, Andras Wines dropped in active mid-morning trading 514 to $37%, Sherwin-WMams i today. to $20 and Westburne Inter- It i3 the market's fifth con- national % to $15Vi while Credit secutive losing session. Foncier gained 3 to $106. The industrial index, consid- 0n the Canadian Stock Ex-ered a major indicator of mar- change, Abitibi Copper gained ket direction, was down .37 to 2^ to 19 ^ m 52>m 2220.10. Base metals were off .02 shares, to 1O0.09 and western oils .01 to 242.41. Golds were up .89 to NEW YORK (AP) - After a 222.26. strong start, the stock market Volume by 11 a.m. was 811,- nosed lower today and by mid-000 shares, up sharply from the session was well on the down-645,000 traded at the same time side. Thursday. The Dow Jones average of 30 Declines held a narrow mar* industrials, up more than 4 gin over advances, 112 to 93, points earlier in the day, was with 200 issues unchanged. down 6.40 at 918.80 at noon. Ad-B an king, merchandising, vances still clung to a narrow pipeline, industrial mining and lead over declines on the New paper and forest issues were York Stock Exchange, however. lower while communication, oil refining, steel and real estate stocks moved higher. Falconbridge was down 1 to $72, Noranda 1 to $47%, Laidlaw Ferguson Vb to $19%, Motorways % to $15y4, Cana- dropped Yi to $17J/4, Among Canadians on the New York exchange, Dome Mines was up % to $78, Canadian Pacific Vs to $18% and Massey-Genstar Granby dian Superior Oil % to $52% Mining Vi to $17'/8 and Inco V\ and Simpsons % to $33%. to $32%. Royal Bank dropped % to On the American exchange, $34%, Canadian Geothennal 10 Brascan advanced % to $20%, cents to $2.00, Cadillac Develop- Canadian Javelin % to $8% and ment Yi to $14y8 and Canadian Tire A Yi to $58V4. Southam Press was up 1 to $32, Chrysler 1 to $32%, BP Canada % to $16%, United Sis-coe % to $10%, Cassiar Yi to $13 and Chieftain Yi to $12. Quebecor % to $15%. Slave Lake elects MONTREAL (CP) - All sectors declined in light trading on lirnmati the Montreal stock exchange to- �V vPIIldXl day Combined volume on the Mon treal and Canadian stock exchanges at 11 a.m. was 335,600 shares, compared with 719,000 SLAVE LAKE (CP)-Valerie Meredith, 24, was elected to town council yesterday in a byelection called to fill the va- shares at the same time Thurs- cancy created by Gordon Cook, 1 Mr. Cook resigned Dec. 30 day. Papers dropped .74 to 120.29 banks .54 to 266.32, utilities .46 to 158.38, the composite .42 to livestock Calgary livestock because he was moving from the community 130 miles northwest of Edmonton. Mrs. Meredith defeated three other cnadidates including Roger Ellsworth who earlier had signed an affidavit alleging conflict of interest involving Mayor Leo Boisvert and two other councillors, ,at Shares ii'W* Gr E{lul,Y Invest Gr F 42.50 |nvest Mutual 19.75 Mutual Ac 43.12'A Mutual Gr F 6.40 Nat Res Acres Ltd 15.25 Aqultalne 24.50 BC Sugar Pfd 15.00 Block Bros 3.00 Brlnco 5.75 Cdn Brew A 27.00 Cdn Brew B 32.00 Cdn Pacific Inv 30.50 Crestbrook Ind 9.00 Crowsnest Cygnus A Cygnus B Falcon Copper F and M Trust ^"^ Home A "� Home B Hul Be8? oil M OMn Shares 4.1.8 4.59 �� Hud BaVy a"'pM fig* gJEquWy 8.69 9 54 3� HuXoir" ftg 'IBS ftf-Ti WIS M7S Huskv B Pfd l^fix. Mufua' 627 **> Lpblaw C Pfd 30.1 VA Temp Gr 9.43 10.31 Magnasonlcs 14100 United Ac 5.33 5.86 Pacific Pete 32.50 Universal Sav 8.20 9.02 PW Air 11.12'A Unlvest 4.14 6.75 Rainier Inc 5.00 vanguard 7.23 7.92 Royal Trust 25.50 caloary St. Maurice Cap 1.10 Acroll Sandwell 4.2s Barons Oil 1512'A ,If'\dyJl - , 490 ttorth Continental la.ii/a West Cdn Seed 5.75 Western Warner 7" Westfleld Mln 1.30 VANCOUVER Weston Pfd 63.00 MINES �2l Whte Yukon 14.50 Afton '45 *P, Pf U.NE ST0CKS A,la* Explor 2525 A.'a Gas A ua'b Bafh Norse Al,a Gas pW 74;25 Cro^Usn ii-"Vz Alta Nat Gas 21.62V4 Dankoe ,J-'a Inland Nat Gas 11.75 Davenport N and C Gas 11.25 '" "' N and C B Pfd 23.75 Pacific Gas Trans 12.50 Gaz Metro 4.80 Gaz Metro A 67.00 Trans Cda Pipe 39.25 ' ""' 72.75 40.62'/2 9.75 34.00 8.20 2.99 1.70 1.10 5.95 16.50 56 6.95 .95 9.00 5.25 Dolly Varden Equltorlal Re* Lornex Primer Pyramid Silver Standard Valley Copper industrials .69 .04 .02 .31 23.00 5.00 Tr Cda A Pfd Tr Cda B Pfd Tr Cda War WC Trans WC Trans Wts MUTUAL FUNDS All Cdn Com 7.74 8.46 All Cdn Dlvld All Cdn Vent Amr Gr F AG Special 8.10 .52 .78 .05 1.40 .50 .30 .20 9.50 .25 .20 .72 9.75 Winnipeg grain WINNIPEG (CP) - Rape-seed prices fluctuated marginally in a quiet volume of trade at mid-session on the Winnipeg Commodity Exchange today. Flax^ pricesdeclined the daily maximum of 10 cents in nearby futures and one to four cents in deferred months. Oats and barley were relatively firm and rye prices were near previous close levels. Thursday's volume of trade was 908,000 bushels of flax, 998,000 of rapeseed and 357,000 of rye. Mid-session prices: Flax prices declined the daily July 10 lower 4.08A; Oct. 4 Yi lower 3.99 %; Nov. 1 % lower 3.93 %A. Rapeseed Vancouver: March not open; June 2 Yi lower 3.74 Yi; Sep. 4 lower 3.70A; Nov. 3A lower 3.51 ViA. Rapeseed Thunder Bay: May unchanged 3.50; July % higher 3.50 %A; Oct. and Nov. not open. Oats: May Vs higher 1.15 %A July Yi lower 1.10A; Oct. Yi 10.12V2 fapt Inter Columbia Brew Hys cdn Key Indust oils 8.34 9.12 Albany Oils 4.11 4.49 Plains Pete 5.70 6.26 Stampede Intl Re* 2.86 Western Explor 2.20 3.20 5.75 .29 1.15 .24 .62 .07 FRIENDS AGAIN SREMSKA MITROVICA, Yugoslavia (AP) - Slobodan Vasic bit off the ear of bis good friend Dane Zlatar when a drinking party got out of hand. "Forgive me," begged Slobodan Thursday in a tearful public apology. "I can't, you made me ugly," Dane replied. Slobodan whipped out a knife and slashed off one of his own ears. The two are friends again. Toronto mines, industrials (Supplied By Richardson Secnrltlei of Canada) (11:00 a.m. Quota*) LAST BID OR SALE (11:00 tun. Quota*) (11:00 a.m. Quof*�� Amr T and T Anaconda Beth Steel Chrysler Comsat Dupont GM Gulf Int Harvester Kenn Copper 51.00 Sears 22.62Vj X-Ron 28.37'/i Texas Gulf 32.25 Texas Co Wlckes Corp Woolworth 53.00 163.75 71.50 25.00 32.25 27.50 99.75 20 Golds 225.90 Up 4.53 89.37V] 10 Base Met 100.40 up .29 21.25 15 W Oils 241.42 off 2.00 36.50 Volume 1,240,000 2U$vjnew york averages Montgomery Ward 21.00 Westlnghouse Elec 35.50 30 Indust 918.90 off 6.40 U.S. Steel 31.50 20 Ralls 188.83 off .39 Gen Tel Elec 26.75 15 Utilities 106.44 off .67 toronto averages 65 Stocks 290.17 off 1.65 20 Indust 219.83 off .66 Volume 8,940,000 ATTENTION mJTOMOTIVE SPECIALISTS Excellent managerial opportunity exists Immediately for first-rate "Bake and wheel specialist" to take aver the brake supply, repair, bonding, and wheel division of a large Alberta based Canadian company. The applicant should possess outstanding knowledge of hydraulic, vacuum and air brake applications and service, and will be presently engaged in automotive friction material sales or service industry. Salary is negotiable and the successful applicant will be entitled to participate in the company's profit sharing program along with the usual benefits. Please Include previous employment record, avail* ability and salary requirement in strictest confidence to Box No. 102 Lethbridge Herald mines Acme Advocate Asb Akaltcho Bralorna Broulan Bethlehem Brunswick Can. N.W. Land Canada Tung. Cassiar Central Pat. Chlmo Conwest Cons. Rambler Coin Lake Cochenour Cralgmont Dickenson Mines Denlson Mines Deer Horn D'Eldona Dome Mines Donalda Dlsocvery Mines East Malartlc East Sullivan Falconbridge Frobex First Maritime* Giant Y.K. Bovls Granduc Holllnger Hudson Bay M-S Hydra Ex. Iron Bay Iso Jollet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langls Silver Mad sen RL Malartlc G.F. Martin McNeely Maclntyre Meta Mldrim Intern Mogul Nu West Homes New Athona New Calumet W Horse Copper Northgat* Norlex Oslsko ,17'A Pine Point 1.12 Placer Dev. .70 P.C. Exp. 2.35 Quebec Man .34 Rayrock 15.00 Radlore 4.65 Rio Algom 7.50 Roman Corp. 1.90 Sherrltt Gordon 12.87VJ Steep Rock 1.30 Tek Corp. Texmont Upper Canada Western Mines Wright Hargreaves 1.20 Wlllroy 1.07 Windfall .10 Yellowknlfe Bear 3.95 Zenmac .08 higher 1.05A; Dec. not open. Barley: May % tower 1.49 %, B July % lower 1.49 B; Oct. % lower 1.49 %B; Dec. not Rye: May % lower 1.40%B; July 1 % lower 1.41 %; Oct. Yi higher 1.40 y\ Gold futures WINNIPEG (CP - Gold fu hires, U.S. funds, Winnipeg Commodity Exchange close Thursday. Apr 73 - 82.00; Jly 73 - 83.60B; Oct 73 - 85.10B; Jan 74 - 86.65B; Apr 74 - 87.92B Wednesday's volume: 12 con tracts. By PAUL JACKSON Herald Ottawa Bureau OTTAWA - The federal government is discussing proposals aimed at achieving equity between feed grains producers throughout the country with a number of farm organizations, Justice Minister Otto Lang told the Commons Thursday. Mr. Lang was answering questions posed by Manitoba MP Jack Murta (PC Lisgar), who brought up the controversial subject of a national feed grains policy. The Conservative agriculture critic said Mr. Lang had spoken of such a policy. Mr. Murta wanted to know if negotiations were under way and whether proposed legislation would be introduced in the Commons so that MPs "can debate this very important matter.' Mr. Lang said Mr. Murta stood to be corrected. No specific national feed grains policy had been promised-the Liberal government simply wanted to find some way to give all feed grains producers a fair deal no matter what region they lived in. "At this time I cannot say definitely whether the proposals which eventually emerge will require legislation,' said Mr. Lang, who is also minister in charge of the Canada Wheat Board. Mr. Murta wanted to know whether a decision had been made to attach in principle the concept that feed grains prices should be be determined in Western Canada. Mr. Lang said the govern* ment was nowhere near the point of decision on the various proposals. "A great number of things are being considered as possible courses of action. The exact proposals of the government will be made known after our deliberations are complete,' promised Mr. Lang. 350 350 May Jly Oct - Nov - Oats May 115% Jly 110% Oct 105% Dec - Barley May 150% Jly Oct Dec Rye May Jiy Oct Dec 149% 150% 140% 142% 140 346% 348 115 109% 104% 149% 147% 148% 136% 138y4 139 350 1 350 341% 311 115Y4 noy4 104% 105% 150% 149% 150% 149% 140% 142% 140 137% Hog prices EDMONTON (CP) - Average prices to 11 a.m. provided by the Alberta Hog Producers Marketing Board: Edmonton: 45.00, average Thursday 45.09. Calgary: 45.30, a v e r a ge Thursday 44.84. Lethbridge: No sales, average Thursday 45.05. Fort Macleod: No sales, average Thursday 45.30. Total hogs sold Thursday 6,080, average 45.01, sows average 36.45. Tax breaU defended by turner OTTAWA (CP) - Canadian corporate profits may be increasing, Finance Minister John Turner said in the Commons Thursday but so are the number of jobs created by big companies. He used this reasoning to defend proposed government tax breaks to corporations against an attack by T. C. Douglas (NDP-Nanaimo-Cowichan-The Islands). Mr. Douglas said a survey listing 305 Canadian companies indicated that 1972 profits after taxes were 24 per cent from 1971 figures. In view of these figures, Mr. Douglas asked, would the finance minister reconsider government proposals to cut the corporate tax rate to 40 from 49 per cent and another measure that would allow a fast two-year write off for purchases of proc-e s s i n g and manufacturing equipment. Beef futures WINNIPEG (CP) - Live beef futures close Thursday. May 44.80A; Jly - 43.90A; Sep - 42.07A; Nov - 40.55N. Wednesday's volume: 10 con tracts. INSURANCE HOME-BUSINESS-FARM AUTO and LIFE WE CAN SAVE YOU $ $ MONEY $ $ See ut soon fimsTER 46Sg 706 3rd Ava. S. Phone 327-2793 1 1.18 7.00 3.60 .18 .78 6.70 3.00 34.25 .06 .47 77.50 .34 1.02 2.20 2.95 72.50 .29 .47 7.25 2.60 3.25 45.50 23.50 .24 3.80 2.66 .24 11.25 .25 41.00 2.95 1.71 4.15 .28 2.75 2.60 industrials Abltlbl Alcan Algoma Steel Atco Ind Atlantic Sugar Agra Ind Bell Tel Brazil Trac B.C. Tel Burns B.C. Forest B.C. Sugar Bow Val Ind CAE Ind Cdn Brew Chemcell Col Cell Calgary Power Coron Credit C.W.N. Gas Cdn Ind 06Va Cdn Marconi .64 Cdn Vlckers .82 Chrysler .18 C.P.R. 47.12'/a Comlnco .11 Cons Bath .12 Cons Gas 13.75 Dlst Seagrams 10.25 Dom Bridge .14Vi Domtar .24 Dom Textile 47.75 Dom Stores 5.50 Dome Pete .33'/i Dofasco 11.25 25.75 16.25 11.00 .22 Cable 17.871A 30.00 Glendale 10.75 52.371/j Grt Cdn Oil 8.20 3.10 Gen Motors 71.00 .11 Grt Lakes Pp 22.00 1.20 Gulf Oil Cda 33.00 .33'/a Greyhound 19.75 26.12'/2 Hawker Sid 4.30 8.20 Hur & Cerle 29.62Vi 16.50 Hiram Walker 50.25 Imp Oil 39.75 Imasca 33.25 Int Nickel 32.B71A Int Pipe 26.00 Inv Grp a 10.75 Int UtII 23.17>A Ind Accept 18.25 Laurentlde 11.25 Kelly Doug a 8.12'A Loeb 4.85 Loblaw A 6.25 Kaps 8.62'A Met Stores 21.50 Massey Ferg 20.00 McMillan Bloa 30.87'A Moore Corp 52.12VJ 5.87'A Molsons A 27.62V4 12.12'A Molsons B 27.00 43.75 North Cent 11.25 20.37Va Power Corp 12.00 ,54.50 Price Co 16.37V4 19.00 Rothmans 15.75 33.50 St. Law Corp 19.50 21.37'/j Shell CDA 52.75 32.62Va Simpson's 33.50 10.75 Simp Sears 53.25 5.12Va Steel of Cda 33.50 4.45 Selkirk A 15.00 2.95 Texaco 65.00 28.12'A Traders Grp a 18.87'/i 1.75 Trans Mtn Pp 21.12'A Trans Cda Pp 39.25 Union Gas 11.75 4.15 Union Oil 16.50 13.621/a Versatile Mfg 7.12V4 32.00 Westeel 30.25 18.00 Union Carb 17.00 31.37i/a Weston's B 21.25 20.37i/a Woodward's A 30.12'A 16.75 West Cdn Sed 5.62'A 38.75 Zenith Elec 2.60 32.50 banks 19.87'A Can Imp 28.7J 8.75 Montreal 19.75 15.00 Nova Scotia 36.62'A 39.50 Royal 34.00 26.00 Tor-Dom 33.25 Dollar value MONTREAL (CP) - U.S. dollar in terms of Canadian funds at noon today was up 1-50 at $0.99 33-50. Pound sterling up 9-50 at $2.46 3-5. In New York, the Canadian dollar was'down 1-50 at $1.00 17-50. Pound sterling p 7-50 at $2.47 9-20. Pfd 11.50 16.75 EXCELLENT RETAIL SPACE STILL AVAILABLE SOUTHYIEW MALL MEDICINE HAT For: JEWELLER FABRIC STORE PROFESSIONAL FLOWER SHOP FINANCE COMPANY BARBER SHOP BEAUTY SALON DELICATESSEN MALL SCHEDULED TO OPEN AUGUST 15, 1973 Direct Inquiries tot J. WASYLYK DEVCO PROPERTIES LTD. 808-5920 MACLEOD TRAIL S. CALGARY, ALBERTA TELEPHONE 2S3-8897 /--> cancoan western naTuraLGas company LimrreD Appointment A.J.L.Fisher,P.Eng The appointment of A- J. L. Fisher as a vice-president of Canadian- Western Natural Gas Company Limited has been announced by �. W. King, president and Chief executive officer. Mr. Fisher will continue in his present capacity as general manager. Mr. .Fisher was manager of the Lethbridge and district office prior to his appoint ment as general manager of the company in 1969, A graduate of die University of Alberta, Mr. Fisher received his B.Sc degree in civil engineering, join ing the company in Calgary in 1954. Big rooms. Comfortable rooms, and more of them than practically any other hotel in Calgary. With the best dining in town on the first floor. And the best entertainment right alongside it. The Calgary Tower is next door with theatres, shops and more great restaurants. You don't even have to go outdoors to get to them all. People who have been staying with us for years keep coming back. Why? Not only because of the convenience and excellence of the services. More perhaps because they like the feeling, the atmosphere of the place.� because this is where traditional Calgary Hospitality began. THE Downtown at 9th Avenue and 1st Street S.W. In Lethbridge phone ZE 0-7337 for reservations ;