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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 30, 1970, Lethbridge, Alberta Maick Id, 1970 1HE LETHBRIDGl HERALD 13 iwf.wiijte'oft.: Prices Mixed In Light Trade Livestock Market Report Tax Hike, V ague Terras Concern Ottawa Officials TORONTO (CP) Prices on the Toronto Stock Exchange were mixed in light mid-morn- ing trading today. The market advanced sharply In the last two sessions follow- ing prime rate reductions in the United States. Canadian exchanges were dosed Good Friday. On index today, industrials were down .07 to 184.27 and western oils 1.00 to 192.77. Golds gained 2.00 to I6I.H and base metals 1.00 to 113.83. Gains outnumbered losses 125 to 85 with 108 issues unchanged. Volume by 11 a.m. was shares compared with at the same time Thursday. Mallagami jumped to M'.i and Abilibi to IHi. Matla- gami released more drilling re- sults from its base metals prop- erly in the Sturgeon Lake, Ont., area. Maltagaml has a 60-per-cent interest in the property and Abi- libi a 40-pcr-ccnt interest. Seaway was up Vi lo I'M on shares after touching 15. The stock rose 7 on shares last week. M. A. Levy said last week that "the Levy family interests had acquired a controlling posi lion" in Seaway, apparently thwarting plans by Argus Inc. of South Carolina to offer a share for 27 per cent of Sea way's common stock. PAPERS ADVANCED MONTREAL (CP) Early trading was light and most sec- tors of the Montreal stock mar- ket moved lower. Only papers advanced and the composite index slipped .30 to 181.24. Seaway Multi Corp gained '.'s to while Dominion Textiles declined to 121j, Imperial Oil to 2H1, Uio Algom Vt to 19Vi and Shell Canada Vi to The Royal Dank was un- changed at 22 and Toronto Do- minion at Among speculative issues on the Canadian Stock Exchange, Phoenix Canada OU picked up 25 cents to 7.50 while Canuc Mines eased 20 cents lo 2.00 and Cadillac Explorations 20 cents lo 6.05. On index, industrials were oft .27 to 19333, ulilities .17 to 135.31 and banks .77 lo 179.12. PapeiS were up .51 to 120.11. Combined volume on Ihc Mon- treal and Canadian Stock Ex- changes was shares at 11 a.m. compared with at jie same time Thursday. BIG LOSS NEW YORK (AP) The stock market sank to a sizable loss in moderately active trad- ing early this afternoon. The. Dow Jones average of 3C industrials at noon had dropped 6.27 to 784.78. Dome advanced 114 among Canadians, Mclntyre was up V4 and Genstar Vi. Massey was off V4 and Inco and Alcan '.4. On the American exchange Scurry and Preston were olf and Molybdenite Jupiter was up 'A. Calgary Livestock to 11 a.m., about 275 head; mostly slaughter cattle. Trade was active. No bulls or choice slaughter steers were offered, but prices on other classes were steady. Good slaughter steers 30.50 to 31.50, medium 20.25 lo 30.50. Choice heifers 30.50 lo 30.90, good 29.50 to 30.50, medium 27.75 to 29.25. Good COWS 24 to 24.50, medium 22.50 to 23.75, canr.ers and cutters 20 to 22.25. Replacement catlle and stock calves were scarce with the few offered meeting steady prices. Good feeder steers less than 750 pounds 33 lo 37. Good feed- er heifers 29 to 31. Good stock heifer calves 33 lo 35.W. No stock steer calves or slaughter calves were offered. Hogs 30.45. Perlieh livestock There were 9CO bead of live- stock sold last week at Perlieh Bros. Auction Market Ltd. Re- ceipts included 623 catlle and 337 hogs. There was a good demand for all classes of livestock from local feeders and order buyers. One load of 500 Ib. steers sold for 44.00. Another load of 600 Ib. s t e e r s for 40.60. ftice quota- lions were as SLAUGHTER CATTLE Steers, choice, none on offer; good 30 to 31.40. Heifers, good 30 to 30.75. Cows, good 24 to 24.60; me- dium 22.50 to 23.50; earners and cutters 19 to 22.00 Bulls, none on olfcr. REPLACEMENT CATTLE Feeder steers 800 to 1000 Ibs. 32 to 36.60; steers 650 to 750 Ibs. 34.50 to 37.80 depending on qual- ity. Holstein steers 850 to 1050 Ibs. 30 to 32.00. Feeder heifers 700 to 900 Ibs. 29 lo 34.00; heifers 600 to 675 Ibs. 33 to 34.25. Medium quality bred cows ana heifers 275.00 to 323.00. Steer calves 450 (a COO Ibs. 39 to 44.00; steer calves 300 lo 425 Ibs. 42 to 47.50. Heifer calves 450 lo 550 Ibs 35 lo 38.00; heifer calves 300 to 400 Ibs. 38 to 44.75 depend ing on quality. HOGS AXD DAIRY CATTLE Weaner hogs 22 to light weaners 17.75 to 21.50. Light feeders 28 to 31.00; feed- ers 28 to 31.00; feeders 100 lo 140 Ibs. 31 to 40.00; heavier feeders 40 to 40.00. Top quality bred gilts, sev- eral 130 to 200.00; small and medium quality 70 lo 125.00. Boars 75.00 to 82.50. Baby calves 65.00 to 90.00. Good quality dairy cows 325.00 to 400.00; Jerseys and plainer dairy cows 233.00 to 310.00. Husky Oil Earnings Decline CALGARY (CP) Net earn- ings of Husky Oil Ltd. in were or 76 cents a share. The annual report released here said these earnings reflect a decrease of five per cent from the reported in 1968 before an extraordinary credit of The per share earnings represented a decrease of 13 per cent from the 87 cents earned in 1963 before consider- ation of an additional 24 cents due to the special credit. Consolidated sales and operat- ing revenues for 1969 were re- ported as a gain of six per cent from 1968. Bj JAMES NELSON OTTAWA. (CP) Some fi- nance department officials admit there U official concern about two sspecls of the white paper proposals for Tax Act revision that drew the most criticism at last week's annual meeting In Montreal of the Ca- nadian Tax Foundation. While other features tt the white paper prompted com- plaint, the two causing the most concern here are: of Increased tax revenues, ranging iron: Perhaps ftvs or six more background papers are to come from the finance department. One of them deals with Ue ef- fects of the white paper on for- eign owners of Canadian invest- ments or other who have Income flo'iving from Canada. The complexity of this paper is likely to make white paper itself look likt a Grade I primer. Tragic Results' Forecast By Tory MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal Supplied by Dolierly, Roadhouse and McCuaig Bros. LAST BID OU SALE a.m. fl.m Ouo'ssl MEN NEEDED to his nei to train LIVESTOCK BUYERS IEARN TO BUY HOGS, VfAL, IAMB AND CATHE at (ales barm, farms, ter- minal yards and buying stations. We prefer to'train men 21 ond over with livestock or farm experi- ence. For local interview write, age, phone and live- stock background. NATIONAL MEAT PACKING 3435 Broadway Kansas Cily, Mo. 64111 lairtone Deficit Mounts HALIFAX (CP) Clairtone Sound Corp. lost in 1909, bringing its tolal deficit lo G. A. McDonald, president of the company, dis- closed in his annual report tabled in the Nova Scotia leg- islature. He said sales in 1969 were about below the budgel- ed .objective of This, combined with rising material costs, resulted in the loss. Mr. McDonald said how- ever, there was a "substantial improvement" over the losses of in I960 and 000 in 1967. The company bud- geted for in 1969. loss of Grain Prices Winnipeg Grain Prices WINNIPEG (CP) Light trading continued in all com- modities well into mid-session today on the Winnipeg Grain Exchange. Oil seeds showed some de- clines with some liberal hedge offers for rapeseed. There was a decline of lo five cents in all futures. 0 a I s and barley proved steady wilh some domestic shipper trade. Rye saw some strength in July and October fu- tures. Total futures trading volume Thursday involved bush- els of flax, of rapeseed and of rye. Mid-session prices Flax: May Hi lower July lower Oct. ?i lower 2.67B, Nov. unchanged 2.63A. Uapeseed: March not open, May 516 lower July Sli lower Nov. lower 2.18A. Oats: May U higher July unchanged 741s, Od. un- changed 74B, Dec. 74A. Barley: May lower l.OSlkPj July unchanged Oct unchanged 1.06A, Dec. 1.05A. Rye: May 14 lower July -Is higher 1.03, Oct. 14 high- er 1.04's, Dec. 1.05A. a.m. Quotes! WESTERN OILS Husky Oil i J5 ComV ealth Ley 3 M 195 513 InlGr Pipe VYIS. 6.70 Ccrp. Investors 5tl 4.15 Asmera 16 !S Intl Ulil MB Federated Glh 507 5.57 Banff 10M Int Pipe 6.00 Gromh Equity 46? M5 Can Scuih 5W Jtfler'cn Late 13.00 Grouped Income 3.60 Cdrt Delr.i ?75 Jourel 1.35 Ir.vtitcii Gth 15.93 11.55 CtjT Ex G3! 5.10 Ktitet Rel 19.3Ni Investors AMI SiS 5.75 Cd.i Homti'd 10-53 Kam Kttia Cdn Ind-js Gas. lO.SJ'A L Ont Port Cem can Iws bland .77 Cdn Stperlor 31 .B7tt N ev. ccne Central Del 12-io Pac Pt-re............ Charter fi 00 RanJc Organ U.S5 Provident ChtEflan SH He'd 14.75 ROrfund rV.ulual Accum. 5.77 5.76 MuluDI Gin F 5.13 SSI Great Plalr.s Mil city New Cor.l Perrr.c- Pinnlcle Place Gas 2d.75 2.10 e'.so 1.16 1.09 1.12 Ir.v. V.'ls.. Skk Raner Vrest C6a Seed. CALGARY AcroM Anad Pete iror.s 3.05 "2.M ______ _.__.. il Mutcal 5.37 5.76 7.70 Natural Rts 7.SS ft.35 Principal Gth 5.43 Mil 6-W 7.29 Accum. 4.79 5.34 U-CO VANCOUVER Anuk.........32 2-25 Arctic Mining .3? Belh. Copper .15 Black Ores. Brer.da .75 Kamalta.......O Brenmac _ Ranker 8.40 North Con B.C. Scirry RaTn 53 U'fy West .60 Capt. Ir.ler _ ce'arnr ,vt Qui.ia'.la......07 PIPELINE STOCKS Alta. Gas Tr. A 41.15 Alia. Gas Tr. 43; Alia Gas (tlal.) 77.15 1500 Churchill CcrcnaElon Credit Dolly Varden Dynasty...... Fcrr Reliance C-iar.! Alascct Granisle...... 550 13.00 .87 17.50 5.IS SCO 1.35 S.75 .44 gr; RaTn Spoor.-r 2.Si Triad...... 375 West Decalta iOS MISCELLANEOUS INDUSTRIALS Atco tr.dus 15.00 Agratc: 2U ____ _........ Aquatine ?M2vi Cdi N Brit Mid inland Nat. Gas f.HIA Key Ind. Cdn. Brew A pfrJ 2? 50 Norm, Centre! Hy's...... Cd.i Brew B pFd 35 SO North, Cwtral S 2625 Ir.I. Brew.......3.50 Cdn Hydro Car 13.75 Gaz U.f'.ro 53 !-3 Jericho.......13 Cdn Pac Inv pfd Trans Can Pipe 27.75 Karrtocps.......12 CPR pfd 6.75 Trans tan Pipe A 5MO Lorr.ex........9.00 Cyg-ius A...... Trans Ca.i. Pipe e.75 Lyrton w.m..... 3.7? Gt Cdn 4.S5 Weslcaast Trans New lit Cd O.I S fr7i 9J.M western Pacific J.SO Home A 59.00 MUTUAL FUNDS Home B All Cdn. Corr.p. 7.33 8-CT Silve.- Standard Hcrr.e Pit 2.73 All Cdn. T.C. Ex...... Hid Bay Co 17.i2Vi All Cdan. Venire 4.0i 4.41 Trojan-..... Hvd Bay OH AS.H Amer. Glh F 5.64 4.15 Western f.Mr.ts Hvd Bar Oil Cdn. Invest. F 4.42 Weskcas! Res Hug1! RLS pfd 23.00 Co1 feet 7.60 Weslarn Explwa Husky Oil..... 1250 Com man wealth 1309 14.35 Utica....... 11.55 .76 2.EO 160) 3.75 5.00 67 51 4.25 .23 .30 1.10 INVENTORY SPECIALS PLYWOOD PANELLING Tohitian Varitone Walnut 9 Tohitian Goldon Tone Random Grooved-Prefinished 47 X8' Sheets TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Gtoles] a.m. a.m. Quilts) INDUSTRIALS Abllibl....... 12.1 Algom a Steel Atco Ind Sugar Bell Te'.l Braill Trac B.C. Tftl Burns B.C. Forest ttcrlh, cent Pembir.a Pp 1 Ccrp B.C. Sugar CAE: IntJ Cdn Brew Chen-cell..... Col CelluloSB Cal PoAer Ccrwi Credit CWH GAS Cdn Indusf Canada S S CtJn Marconi CdT Viewers Chrysler CPR........ CcT.inco Cons Bath Cons Gas Dist Sea..... Dom DSST. Stores Dame Pert Fan Fd cf Amer Gt Cdn Oil Gen f.'.ctors Gt Lakes Pap G-jll Oil Cda Hav-Kcr S'd Hyroo, Erie Irrp-rial Irrperlal Tob Int NFcfcel Int Pipe Inv Op A Ir.I UtmtiES Ir.dwt AcctpT Lauren'ide Kel'y Doug A Loblaw A'.ctro Slores Wassey Fcrq Woorc Corp rV.olson's A Ms'ssn's B 21.50 32.25 17.50 4E5 7.v5 1.35 10.00 Simp iears 51 EC! cf Can Selkirk A Texaco Traders Gp A Trans tAtn Pp Trans Can Pp Uplw Gas Oil Versati'e Mfg V.'esleel..... U.-.ICT Car VVesIcn's B Woodward's A V-est Cdi Sd Zcniffj BANKS n'Svi 9n, Imperial Scolia 14.00 79. W 11.75 sis fO.JS 23. a 18.00 2.53 16 !5 13.75 15.50 2J.OO 13.75 Giant Y.K. Gcrldrum Gcr.nar GrandL-c 75.00 22.50 15.00 32.K) 10.75 Hud. Bay r.VS Hvdra Ex. Highland Bell iron Bay 27.75 j0iiel Ouetec Addison Acrre Advocate A-b. AKaitcfta Area M'nss Barnal Be'cher kcfl Bay Rrarcrr.e Brou'sn Eelhlehsm 41.53 1S.75 13 5D 22.50 17.25 in l.EO 20.75 IS 53 21.75 .13 275 .a 234 .63 East Sglllvan 7.1} Falcwit-idgs US.ts Ficbcx........vt Flrsl Wjrlllmtl 1.35 805 10.12V4 .cavi !9W 65.75 .23'A J.I5 2.85 2.30 .2S 13.75 .n 2J.SO 3.30 .lO'.b ViO 1.26 .S? ,15 .23 172.00 .2! .33 1300 .11 .27'A 3.E3 2i2S 15.12'.4 13.67'A Key Anaton Labrador Shore Lellch...... Lingi! Silvtr ft'aise.T R.'C Malartic G.F. Martin Waclr.lyre r.'e's........ M-drirn....... Inters Alhsna Nev; Calumet Nev; tmp'rial Norano'3 OsisVo .11'A PaCno 310 Pir-e Pol-.t .32 Placer P.C. Exp. Limited Quantity Reg. 4.95...... Per Sheet 21JS Canada lung. toSf 2225 Chlxo....... 825 Ccnv.eSt 27.62Vr Ramtltr Coin Lake t 73 Cochersjr 7.00 CraigTJCnt _ 650 Dcnisoo Mines 3300 Deer Horn a.oo 1.85 IBM 3.25 1.65 13.25 lit .50 12.W Rio Algom Reman Corp. Gordon Sleep Rctk 17.75 17.05 i De-re ft'.l-ES i Discovery East Kalaitlc Trt Corn..... 1.50 Tex merit 37.50 Urjpfer Weslfrn Hip.M .76 tlar. 59.00 .25 V.'indlall 1.33 1.30 Zenmac t o which-would accrue uixJer the tax law changes ones they began to take effect. -Lack detailed legal defi- nition of many of the new pro- posals said outlined in the white paper in vague terms. The first of the complaints was made principally by econo- mists and political scientists at- tending the Montreal meeting. They want to know what the ad- ditional money will be used for when the government begins to collect il. The second was voiced mainly by the lawyers ccd accountants, forming the bulk of the founda- tion's membership, who are under pressure from their clients for detailed recommen- dations on how to adjust their affairs to the new tax plan. ESTIMATES VARY The estimate of increased revenues was made by the finance department Nov. 7 in the white paper itself, indi- cating the amount of extra money the federal government could expect from tax changes after they have been in effect five years. Ontario made the estimate of based on the tax proposals' revenue yields after the plan has become fully ma- tured. Ontario and federal offi- cials have been trying to sort out their computer analyses to delermine how their figures are so far apart. Ottawa's estimate amounts to about five per cent of the fed- eral budget for the new fiscal year starting April 1. Some fi- nance department officials re- gard this as a small matter when related to live years or more into the future. Nevertheless, Finance Minis- ter Edgar Benson may be more explicit in the next few months in declaring that the tax rates specified in the white paper are not intended to be rigid ones. If, after the white paper is implemented, federal revenues run higher than the government thinks is proper to meet its bills or is needed for economic stabi- the government can and will reduce the rates. But no minister of finance can say now what tax rates will be needed a year from less five years from now. LAW PROPOSALS Early in his work on tax law revision, Mr. Benson planned to table in the Commons, or other- wise make public, some draft sections of the new income tax law. He said lawyers and ac- counlants, as well as taxpayers in general, would then be aHe to see specifically what the gov- ernment proposed. Mr. Benson decided later In adopt the more general lan- guage of R white paper pro- posal. This is too vague for the lawyers and accountants who have lo advise their clients on the law. Mr. Benson told the Montreal convention that he will be mak- ing public more specific back- ground papers on the white paper as lime goes along. Three have already been submitted to the Commons finance commit- tee. But finance department sources say the government is still several months away from drafting spetitic sections of a tax bill in the forrr required for adoption by Parliament and in- scription in Ihe law books. INDUS, ALTA. (CP) The federal wheat acerage reduction program will make westerners seperatist-minded while it leaves their competition in the world market happy, said member of Parliament Jack Horncr (PC- The plan was "devised by ac- ademics lo satisfy eastern Can- ada because farmers there want to keep western farmers out of production to protect their pro- duction facilities." Academics, like Agriculture Minister H. A. Olson and min- ister without portfolio Olio lang, responsible for the Canadian Board, have come up wilh a program with no basis in reality. They just don't understand the farmer's mind." Mr. Horner told the Bow North Ratepayers Association the pro- U considered backward in the west and the long term results will be tragic. The eastern papers sneered that the government was going to pay a hand-out to western farmers. However, I predict trie program will take ordv acres out ot vAeat and the most the government will pay out will be Ar.J it will cost the govern- ment to pay ou1. Uiat amount because the farmers will ave hundreds of inspectors rolling around their farms. The program will fail because many farmers just can't afford .0 increase their summerfallaw." Most of Ihe people asked to increase sununerfallow did not crca'e the surplus anyway, he said. A payment ol ?6 an acre would not pay Merest on a cap- ital investment needed to pur- chase land at S125 an acre. Indus is 25 miles southeast of Calgary. 33.00 45.25 .90 .70 1.S3 .45 19.75 255 2450 3.95 2.6-5 7.55 .U 5.10 4 75 1.50 1.10 Br. NEW YORK STOCKS Supplied by Richardson Securities of Canada Amer. T. anil T. 53 M Sears Aracorda Sled 33-50 Chrysler...... !J.W 37.12'.'i Wesli-chKSS El Duco-l M.etti U.S. Sieel 3I.51 General rVclo'S TORONTO AVERAGES Cu'l !'75 IgJCJ off Harvester 29M 23Gfds IM53 up 1.3J 67.25 1S W "J lp 'W 27 y, Vc'tmt NBW YORK AVERAGES Iniust 7H 't cfl 6.37 n Ral's oil .3) is on W Stocks 561.6) Otl 1.41 Vc'ume WATCH OUT YOU OTHER 100 ccert HONCHO Is Coming! CRESTLINE BUILDERS MARKET LTD. 'lETHBRIDGE'S INDEPENDENT BUILDING SUPPLY HEADQUARTERS" 123 30th St. N. Phone 327-5444 or 327-5110 Prices EDMONTON CCP Hog prices today provided by the Al- bcrla Hog Producers' Market- ing Board: Edmonton: Quoted 30.30 to 30.50, selling 30.50. Average llnirsday 30.65. lied Deer: Quoted 50.30. Av- enge Thursday 30.53. Calgary: Quoted 30.40 to 30.53, selling 30.45. Average Thursday 30.G6. Quoleil 30.25. Av- erage Thursday 30.75 Lloydminsler: No sale. Aver- age Thursday SO.10. To'.al lions sold Aver- ago Thursday 30.01. No sows sold early. Average Thursday 36.1 L, TOWN OF PICTURE BUTTE Swimming Pool Staff The Town of Pidura Bulte will receive applicolioni until April 10th for ths under noted positions to com- mence about May 15lh, 1970. POOL OPERATOR TWO SENIOR LIFEGUARDS TWO JUNIOR LIFEGUARDS Please submit qualifications and salary expected In letter of application addressed (o Iho undersigned. H. MOR1YAMA Secretary-Treisurtr BUNNY 5-Foot Stuffed Easter Bunnies With The Purchase of an ADMIRAL COLOR TV Offer Good March 261h To April 4th Admiral 25" COLOR TV Instant play Pte-set fine tuning Auto-fine tuning control Push-pull-on-off volume control 2 front mounted speakers Wolnul Veneer ccKnel WITH TRAD! OR ONLY PES MONTH 31241 23" Custom Low Boy TV Imfonl ploy Ulfro ilim conlempamry cabinet Pulh-pull-on-off control Pre-iet fine tuning Hand Crafled Walnut Veneer 1 front mounted full fidelity iptakfrl OR ONLY PER MONTH WITH TRAD! NO DOWN PAYMENT UP TO 36 MONTHS TO PAY We Take Grain In Trade TWO LOCATIONS TO SERVE YOU 319 7th. SI. S. Phone 328-1673 1038 3id Ave. S. Phons 323-133] ;