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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 29, 1973, Lethbridge, Alberta Thundery, Match THI LETrittlDGl HHAlD 21 TSE higher price trend continues TORONTO (CP) Gold is- sues led the advance as prices in all major sectors of the To- ronto stock market moved higher in moderate mid-mom- ing trcc'.ing today. The gold index soared 4.43 points to 231.23. Industrials, the besl indicator of marke! trends, rose .35 to 223.86, base inatals .18 to and western oils .62 to Volume at 11 a.m. was 000 shares, down from at the same time Wednesday. Among gald issues, Campbell Re-i Lake rose 3% to and Camflo five cents to Advances outnumbered dc- clims by almost two-to-one, 137 to 75, with 188 issues un- changed. Banking, merchandising, steel, real estate, food process- inp snd utility issues posted Livestock Calgary livestock CALGARY (CP) Receipts on Calgary's public livestock market to 11 a.m. totalled 950 head, mostly slaughter classes Trade was slow with prices edging downward. Slaughter steers and heifers were a full 25 cents lower; al grades of cows were to lowers. Bulls were steady. Al, A2 steers 41.50 to 42.60 A3 40.50 to 41.50. Al. A2 heifers 40.50 to 41.30 >vith the odd sali higher. A3 36.50 to 40.50. Dl, D2 cows 31.75 to 32.7J with younger kinds higher. D3 30.75 to 31.75, D4 27.50 to 30.75 Good bulls 37 lo 38.75. Replacement cattle w e r scarce with most of the offer ing heavy feeder steers sellin lower. Good heavy feede steers more than 900 pounds 4( lo 42.50. Hogs base price 40.25. ome of the 1 argest advances communication, pipeline nd trust and loan .rifled lower, Siater, was up to 15. Canadian Imperial Bank ?30Vs, Simpsons lo fM Algom Yi to and CliryS' Marlborough Properties rose s to Pembina A Canadian Bonanza 17 cents to J.Zi and Imperinl Oil i. Bow Valley dropped ?t 33 Agra Industries 12VJ. Faleonbridge Copper o United Siscoe Vs and Moore 3i> to MONTREAL (CP) All sec- ors advanced in liglrt trading on the Montreal.slock market oday. Combined volume on the Mon- treal and Canadian stock changes at 11 a.m. was shares, compared with shares at the same Wednesday. Banks gained 1.89 to 271.86 the composite .50 to dustrials .50 to 244.11, papers .16 to 122.31 and utilities .09 to 160.56. On the Montreal Stock change, Credit Foncier gained 3 to Bank of Commerce to MLW Worthington to and Quebecor V2 to W- On the Canadian Stock Ex change, Fallinger was up cents to on shares. NEW YORK (AP) Prices opened higher on the stock mar- ket today, continuing a three- day rally, then edged toward mixed at noon. The Dow Jones average of 30 industrials at noon was off to 947.17. On the American exchange, Quebecor advanced to white Brascan was unchanged at Tax return tips For further Information, the District Taxation Of- fice. If yon live in a toll area, ask your long-distance opera- tor for ZENITH 0-4000 and your call will be placed with- out charge. Q. Last year my friend died ind in his will left me several thousand dollars. Is this money 1 inherited taxable as income? A. No. Money inherited is not subject to income tax. However, if there were investments in- volved, any investment income received or credited after you inherited the money would be taxable as part of your income. Q. I have a bank savings ac- count and I have received a T5 slip showing the interest I have to report for tax purposes. However, every time I write a cheque on this bank account the bank charges me for this. Can bank's service the investment I deduct the charges from income? A. No. The cost of writing cheques on your 'savings ac- count is a personal expense which is not from fv terest for income tax purposes, Q. Must I have a Social In surance Number, and enter on my income tax return? A. Yes, if you are required to file an income tax return you are required to have a Socia insurance Number and to ente it on your income lax return Your Social Insurance Numbe is used for identification pur poses and for the recording of contributions to the Canada Pension Plan. Q. My Social Insurance Num. her printed on my personalizcv tax return form is not the sam as the number on my T4 slir. How do T correct this? A. If ihe number is incorrec on your' income tax form cros out the wrong number and en ter in the correct number. your Social Numbe incorrect on your T4 slips otify your employer and ask im to make the necessary cor- ection. I have two bank accounts nd the interest on one of them less than ten dollars aven't received a To slip. Does his mean I don't have to lare this amount of when I file my tax return? A. You should report as part 3f your income all interest re- from bank savings ac- -ounls, even if you have eceived a T5 slip from t h e ft. I intend to change jobs, ind my employer has already made all the Canada Pension 'Ian deductions I will be quired to pay this year. Wil my new employer still be quired to make Canada Pen sion Plan deductions from salary? A. Yes. Each employer miisi deduct the required contribu lions from each eligible em iloyee regardless of what has deducted for Canada Pen sion Plan by any other employ er during the year. However you may claim a refund of any overpayment you have made when you file your individual income tax return. Q. Arc Canada Pension Plan contributions compulsory? A. Yes. The employer must deduct the required employes's contributions and remit the amount together with h i s matching contribution to Ihe Department of National Rev- enue, Taxation. Self-employed persons must, pay Canada Pen- sion Plan contributions in in- stalments in the same manner as income tax payments. The aforementioned is not applicable if the worker is un- der 18, 70 cr over or has a dis-1 ability or retirement pension payable to him under the Can- ada Pension Plan or the Que- bec Pension Plan. I 1 I V V 5 ces ine cks 10 K 3A, ys-OSC to to to to Vfe to seeing ket ,100 ime .86, topers 9 to Ex-ed3 s ?s l 7W. Ex 30 es. ices roar-iree-vard 30 f .83 nge, fl7% nged 8. slips ask cor-DUDls them so I Does o de-come t par t re-s ac no I IK jobs nsio. e re Wil re Pen n m mils tribu i em t ha Pen nptoj veve an mad vidu Pla Grain prices Winnipeg grain WINNIPEG (CP) Trading ?as mixed in moderate volume nth prices generally steady rith the previous close it mid-ession today on the Winnipeg Commodity Exchange. Rapeseeo was HI higher to me lower while flax receded to Wl cents for old crop fu-ures and traded unchanged tor he new crop. Oats and barley were frac-ionally higher to unchanged in a local affair. Bye was active and fractionally lower with commission louses and locals the main sellers. Wednesday's volume was bushels ot rapeseed, MC.OOO bushels of flax and bushels of iye. Mid-session prices: flax: May 1% lower 4.15'IA; July Vi lower 4.12A; Oct. unchanged N c v. unchanged 3.99A. Rapeseed Vancouver: March y4 higher June Hi higlxsr 3.69VsB; Sep. 1 lower 3.65; Nov. Vt higher 3.49'AB. Rapeseed Thunder Bay: May Vi lower 3.49V: A; July lower 3.49HA; Oct. higher 3.3S34A Nov. not open. Oats: May higher Julv unchanged l.OSVsB; Oct. unchanged Dec. not open. B a r 1 e y: May Hi higher July unchanged 1.49A; Oct. unchanged Dec. unchanged I.48B, Rye: May ft lower 1.42ViB; July lower 1.44KA; Oct. y4 lower 1.43ViA; Dec. not open. WINNIPEG (CP) Grain quotes Wednesday High Low Close Flax May 418W 410 417W Jly 413 407 412Vi Oct 40R1-2 403 407Mi Nov __ 399 Rapeseed Vancouver Mar S75U Jun 37m 367 Sep 3S7 363 366 Nov 351 14 348% Rapescert Thunder Bay May 350 345 SWi Jlv 350 345 350 Oct 338 335 338 NOV Oats May U4si Jly 109% 10SK IDS'i Oct Dec 104 Barlev May Jly 149 148% 149 Oct 148% Dec 148 Rye May 143% Ulli Jly 143% 144% Oct H3'.i 142 Dec quotations Vancouver, Calgary, Montreal bj McCulg Limited) LAST BID OR SALE QUWH) (1UH ouattt) QvafM) WESTIRN OILS Crowsnest Inl AGF Sptcial in Siberi By THEODORE SKABM) t> New York Times Service p MOSCOW Tne Soviet g Union has disclosed it had started production .in a giant ii east Siberian gas field that is r viewed as a potential source b of energy for Japan and for u the United States wcsi coast. Gas to flow from the s jig Yakutsk field, but only For s wal consumption llius far, as Soviet Japanese political rela- lions appeared to be warming b in preparation for a visit by t Premier Kakuci Tanaka to f Moscow later this year. c Tlie Russians have been 1 pressing the Japanese and American three-company group to r sign up for the gas project, c which would involve an invest- z ment estimated at billion in return for natural gas d.viver- i ies over a period ol 20 to 30 years starting around 1980. The proposal is still under t study in both Tokyo and Wasli-inglon. The limited Soviet development now under way unde an gas i e designed to demonstrate the otentiatities of the Yakutsk as resources. According to American ,gas idustry executives, sufficient eherves have yet to be proven y the Russians in the Yak-sk region before its gas re-ourccs can be seriously eon-idered as a long-term supply ource. On the American side, the 'akutsk proposal has therefore een regarded as far more entative than another potential ns deal that envisages the use i west Siberian gas on the Jnited States east coast. Similarly, the Japanese are eported to be giving priority onsideration to helping finance in oil pipeline across Siberia, 'he line would carry crude oil rom the Tyumen fields of west >iberia to Japan. The beginning of gas prodnc-ion in the new field was reported without fanfare by Tass, he government's official press igency. A brief dispatch way field iie city of Yakutsk said local 'ndustrial plants Tuesday received their first gas from the newly developed Middle Vilyui field, described as the "richest in east Siberia. According to the dispatch, the new field will be supplying more than 35 million cubic feet of gas a day to industries in Yakutsk, a city of If the Japanese American project materializes, it would esquire a daily flow of three billion cubic feet, or roughly 85 times the present production level. Soviet officials believe that tile middle Vilyui and other big fields nearby contain as much as 460 trillion cubic feet of gas. but most of these reserves still remain to be proven by detailed geological exploration. SUPPLY ASSURED Soviet domestic gas requirements have been assured for the foreseeable future by the discovery of large reserves in western Siberia and central Asia, closer to the industrial centers of European Russia. Soviet planners therefore have been in no hurry, to carry out detailed prospecting in the re-mots Yakutsk region. This attitude changed the potent! alrties of the region aroused interest last year in Japan and in the American consortium, made up of El Paso Natural Gas Company, Occidental Petroleum Corporation and the Eechtel Corporation, an engineering company. Shortly after the Soviet Union and Japan signed ait agreement in principle in November, calling for study of the Yakutsk project, the Soviet government established a separate gas exploration agency 12 the region to speed up drilling operations aimed at proving reserves. Etvl GM f.iS B 7.7S Ccl 7.08 Almlnex 600 Falewi n.75 Cmnw Inter 1S.62 17.16 F M Truit 7.25 Cmnw J.M AshllM 14. 14.WU 8.00 1.79 BP C.nada U.87Vi Home A >1.75 Ccrp Invesl 6.37 J.K Brenda S.25 Horns B Corp St F 5.39 S.W cm Squlh Kud lay Co H.M w F U.S. IJ.W Cdn Ex X.05 Kud Bay Oil -JJ Cdn Homtsld 1.35 KucJ BBV A Pld 55.00 Oil l.tTVi Huoti Rusrell n J} ,vS? Cdn Long 1. .38 Husky Oil 20.25 .9' Cdn Super 55.00 Husky B Pld .12Vi KSJIl Ar I'SJj Charltr oils X.OO Husk{ D 7.00 Jft J'JJ JJ Cnieflan Husky E Wsr 8.25 K, Jl Dome Pllt 41. SO Inter Pipe fj W Cdn 573 IS DyMsly t.95 Inter Prov steel 14.25 N w Gr 5 43 s'9 Fcrt .31 Kaiser Res Gr 497 5-46 Giant Mascor 3.70 Loblsw C Pld 29.50 Royfund 703 7-32 GranTsle 9.75 Magnasonics Temp Gr 9.X6 10.34 Gl Plains 34.00 Pacific 32.37'A United Ac M6 600 Cdn oil 8.70 PW Air 1T.OO Universal sav 8.26 9.0B Lochiel 3.29 Rainier Inc UnEvest 6.14 e.7j Lyttoft Min 1.65 Trust 25 37V? Vancuard 7 27 7.9i Noble St. Maurice Cap l.OS CAUOARY Horth CcJn oil 7.00 i 10 Acroll ,19 Nujnac 17.00 Teledyne 4. SO Barons Oil .04 Pancdn Pela TS.25 West Cdn Seed 6W t-'ortn Continental .07 Pan Ocean WesWeld Mln 1.35 -H Petrol 1.33 Weston A Pfd M.25 VAMCOIIVM Pinnaclf .23 White Yukon 14.00 MINES Place Gas 6; Atfon i.lo STOCKS Atlas Explor .55 Ranoer 57 MIA 16.37'A Bath Norse stvrn Rain 14 7S G" fu Croyden 05 I'S Nat Gas 31.75 Dankoe SMCTier Nat eas .50 Sp- li as 'Mr Hj2S, 'L1S 5.50 GaE Mefro A WM Pyrann.d .20 MISCBLLANBOUS Trans 40.50 INDU5TRIKS Tr Cda A Pfd JS.tUfy t Acres l_M lA.IJiA Ti- Cda B Pfd 41.75 r__f M Aquifaine 25.HW Tr Cda 9.M i BX. Sugar PftJ is.M WC Trans Cdn 400 Brack 3.00 WC Trtw 4.9J ,Cnadnus1 ''JJ MUTUAL FUNDS OILS Cdn Brew A J7.75 All Cdn Com 7.70 B Albanv 1.15 Cdn Brew B 32.M All Cdn Div.d Plains" .26 Cdn Pacific Inv 31.00 Alt Cdn 4.14 4.J5 Stampede Inll .S9 Ird Amr Gr F 5.B7 Explor Toronto mines, industrials (Svppfled By of Canada) LAST BID OR SALE rm. Ouolw) nt-.M MINIS OMSto .12 Cable 17 00 Acme .11 Pwnt 79.25 10 iZVa Advocate Asb- U9 52.00 Grf Ctfn Oil 875 AKaltcho P. C. Exp 3.15 Gth Mctors .1 50 3.5J Quebec Man .11 Grt Lakes Pp 32 Broularr .Wh Rtyrock 1.25 Gulf Oil Cdn m for Arctic gas ivorft TORONTO (CP1 Export markets1 for arctic oil and natural gas will not wait on Canada's convenience, W. 0. Twaits, chairman of Imperial Oil Ltd., said today. In the company's annual report to shareholders, he also said discouraging investment in resource development will not automatically assure that addi-ional investments will go into other segments of the economy. He said preliminary work on a University of Toronto study of :he role of resources development in Canada "radicates that in terms of employment both direct and created m other industries resource industries have about the same impact on the economy as the rest of industry." Capita! will go where it can get the most profitable return, he said in downgrading suggestions that Canada bank northern energy reserves instead of exporting them. If exploration development ii the Arctic is to proceed "il must be done on the basis tha; export markets will be r oil, wait or exploration development in this high-cost frontier area can not be justified on the basis of domestic demand alone." But Mr. Twaits added, export markets will not wait while Canadians debate this 4.75 R1-9 Algom Hawker Sid 1 35 Can, Roman Corp a.So Hur t, Erie 3LM -Canada Tung. Sherriti Gwdon Hiram VJalkar 50 1? Casslar 17.75 Sfewp Rock l.iS Imp Oil Central Pal. 1.10 Corp. Imasca sj'cfl Cbimo 1 25 Texmofit .30 Ifit Nickel li'lVi Conwest Upper Canada 3.A5 lot Pipe 75' 50 Cons, Rambler Western Minss 2.50 Inv Grc A 1075 Coin Lake .171A Wright int Utit Cothenour Willroy Accepl Craigmonl A.7S Windfall .n Kaps a 'MA Dlckensor. Mines YellowknKe 3.73 Laurenfide Mines S4.75 Zenmac Kellv Doug A B DO Horn Loch 4 35 EVEIdona .45 INDUSTRIALS Loytaw A Dome Mines Tel JS.liVj is Utilities 107.63 U.C. Kenn TORONTO AVERAGES 65 Stocks 299.96 up .17 Montgomery Ward 31.50 20 Imfuir 333.67 up .14 Volume prices EDMONTON" (CP) prices to 11 a.m. todaj provided by the Alberta Hoi Producers Marketing Board. Edmonton: 40.35, average Wednesday 40.84. Calgary: 40.25, a v e r a Wednesday 40.91. Lethbridge: No sales, aver age Wednesday 40.65. Fort Macleod: No sales, av erage Wednesday 40.65. Total hogs sold Wednesda. average 48.89. Sows aver age Sykes has called for resignation of Alderman Don Hartman, chairman of the city's finance and budget committee. Mayor Sykes included his comments in a five-page letter left for council before he went j to Denmark. The letter described Aid. Hartman as "totally irresponsible" and said aldermen Petei Pelrasuk, Eric Musgreave and Adrian Bcrrv also are CARDS LTD. REQUIRES SALES REPRESENTATIVE To cover Urhbridgt and surrounding area. Experience hi calling on drug, variety, cha n or rfept. BtorM an atwrt. This is an existing territory. Our company a leader in its field, tolary bonui, company eor, normal fringe benefit. KEITH HOLIDAY INN, e -i- .fwcvivrn "x-. A 'f'jjv C'. ,v Gentle Rye Whisky. torn DEVELOPMENT COMPANY Invites Inquiries from property ownert interested in joint and having land available for development. Reply to Box 123, lethbridge Herald s X f v ;