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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 31, 1970, Lethbridge, Alberta Tuttdoy, March 31, 1970 THt KTrllRtOGE HEKALU 17 Market Advances In Light Trading B of C Lifts Restrictions On Some Foreign Currency Livestock Market Report By CARL MOI1IXS OTTAWA (CP) The Bank of Canada announced Moaday right the removal ot restrictions on certain transactions foreign currency which were im- TORONTO (CP) The To- ronto stock market advanced fractionally in light mid-morn- Granby an ing trading today. anced !s. On index today, industrials On the up .17 to 1M.30, golds 1.45 to 162.56, base metals .70 to 114.88 and western oils .03 to 1M.27. Losses outnumbered gains 115 to 108 with 167 issues un- changed. Volume by 11 a.m. was shares compared with the same time Mon- day. Eight of the 17 industrial com pnents advanced, seven de- clined and two were unchanged. Mattagami slipped lo The stock rose 41s Monday after Matlagami reported fur- ther drilling results from its property in the Sturgeon Lake, Ont, area. Mattagami holds a 60-per-cent interest in the property and Abl tibi, unchanged at a 40 per-cent interesl. Falconbridge gained 1 to 176 Alberta Gas Trunk Vt lo 42W> Patino li to 50 and Toronto Do- minion Bank Vi lo Impe- rial Oil lost 11 to and Roman Vt to 13. PRICES MIXED MONTREAL fCP) Prices were mixed in light early trad- ing today on the Montreal stock market. The composite index advanced .32 to 131.50. Walker Gooderham gained Vi to 48 and Melchers 'A to 15. Antorg senior mines and oils, Denison moved ahead 1% to on a 173-share trade. Hoi- linger Vi lo 30 and Aquitaine Ve to Mount Royal Rice, on the Ca- nadian Stock Exchange, slipped to Wi and 100 shares of Sea- way Mulli Corp. traded at off On index, industrials were up .21 to 193.42 and utilities .94 to 135.91. Banks were down .16 to 179.89 and papers .60 to 119.49. Combined volume on the Mon- treal and Canadian Stock tiianges was shares at 11 a.m. compared with at the same time Monday. MODERATE TRADE NEW YORK (AP) The slock market, atler an early drift downward, firmed a bit in moderate trading early this aft- ernoon. The Dow Jones iverage of 30 industrials at noon was off 0.86 at alter being down 2.11 to 7B2.54 early in the session. Hudson Bay was off and Mclntyre Hi among Canadians. Distillers was dowr and Granby and Inco V.. Alcan adv- American exchange Jupiler was up }i, Preston Vj rd Molybdenite, Javelin and iirascan It. Scurry was off Is. Grain Prices Winnipeg Grain Prices WINNIPEG (CP) Trading continued extremely light in all commodities'at rod-session at ;he Winnipeg Grain Exchange loday. Oilseeds showed fractional strengths on some pressure and exporter buying in flax and ex- porter and commission house buving in rapeseed. Oats and barley prices were steady following light dorncslic shipper trade and a small vol- ume of buying for eastern feed- ers. All futures were fractionally easier in rj'c v''n pattern of inter-month and inler-market spreading. Volume of trade Monday in- cluded bushels of rape- seed, of rye and of flax. Mid-session prices: Flax: May unchanged 2.73MB; July higher 2.695JA; Oct. higher Nov. Vt higher 2.63'.SB. Hapeseed: March Vz higher May higher 2.65B; July higher 2.50A; Nov. 1 higher 2.UA. Oats: May unchanged 74A; July not open; Oct. unchanged 74B; Dec. not open. Barley: May Vs higher July, Oct. and Dec. not open. Rye: May Vi lower July Vs lower LOMi; Oct. un- changed l.OWA; Dec. not open. Prices for class two wheat for export to countries outside IGA: 1 Nor 1.80is; 2 3 4 1.5Hs! 5 1AKi; 6 1 Durum 2 ?s; 3 1.70'i; IGA prices: 1 Nor l.SHs; 2 l.Tl'.'a; 3 1.6Ha; 1.51S; S l.WSl; 6 1 Du- rum 2 1.80S; 31.70V4. Grain quotes Monday (basis posed at the height of its tight- credil policy last su.nmer and reinforced in January. The central bank announced withdrawal of a ceiling on so- called swapped deposits, a method of lending funds outside Canada through currency ex- change at rates of interest higher than could be earned in this country. Because the transactions tended lo exert upward pressure on Canadian interest rates ami were a way around other cred- it reslrictions imposed by the Bank of Canada, the chaftera banks were asked last July no lo increase the amount of swap- ped deposits from their total lien of around Investment and trust compa- nies were asked by the central k in January not to subvert :he ceiling by conducting ami- .ar transactions. The motive for arranging swapped deposits was strong last year, when Uniled Slates dollar deposits in Europe were earning up to 12 per cent in an- nual interest rates while the rate for short-term Canadian deposits was held at Vft per cent. RATES DOWN TO S'b Lately, dollar rates abroad have fallen to around 814 per longer the central bank said. When originally requested, the ceiling on swapped deposits was described as a temporary measure. The Bank of Canada was understood to regard the present as an opportune mo- ment to remove restrictions which tend lo have an uneven impact on financial institutions operating in otherwise rela- tively-free money markets. In addition, removal of the re- straint could help moderale some of the strong upward pres- sure recently on the exchange rate of the Canadian dollar. cent. "In view of the substantial re- duction which has recently oc- curred in short-term interest rates abroad, it was felt that these special requests were no MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal Supplied hy Doherty, Roadhouse and HcCuaig Bros. With demand for Canadian to 29.50. Lethbridge Livestock (Supplied by Canada Department of Agriculture) On offer to 11 a.m. 190 catlle. Receipts: Practically all of choice buicber steers and heif- ers. Cattle market active. Good and choice butcher steers meet- ing good dema-id at strong prices. Medium grades fully steady. Good ar.d choice butch- er heifers meeting keen de- mand. Prices strong to a shade higher. N1) good cows sold ear- ly. Bulls steady. The few heavy feeder steers on offer selling at firm rates. Choice steers 31.50 to 32; good 31 to 31.50; medidm 29 to 30.50. Choice heifers 30.50 to good 30 to 30.50; medium 28.50 ers 30.50 to 31.10, good 25.50 to 30.50, medium 27.25 to 29.25. good cows 24 lo 24, mediun 22.75 to 24, canners and cutters W to 22.75. Good lulls 27.50 to 23.80. Replacement cattle were mostly fleshy steers at steady prices. Good feeder steers less llian 750 pounds 33 to 37, more than 750 pounds 30 to 33. Good feed- er heifers 550 to 650 pounds 33 to 35.70. Medium to good stock steer calves 35 to 40. Good stock heifer calves 34 lo 36.CO. No slaughter calves offered. Hogs base price 30.80. Japanese Buy Ore (1UCO a.m. Quotes) LAST BID OR SALE j.m. Quotes) WESTERN OILS Almlntx Banff Can Sculh Can Delhi Can Ex Gas Can Grlgcl Can Hsnr.Estd Cdn tnd Gai Cdn Long Is Cdn Superiw Ccn Del Rio Like. Chielten Dynamic Frep.ch Pele Gl Plate Clly Cent N'crlh Cd.-i. Oil Numac Cdn oil. Perrr.o....... '..V F'ljcs G.-.S Per.der Scurry Rain Spooner Triad Y.'esl DDcalJa Je'ftrtcn 5.1i Joukl U.tVh Kaiser Rt; WMVi Kam Kclia IK L Ont Pal Ce MGF Mm iOi 9.00 Neocene 10.37VJ PJ: Pelt 11.00 Rank Orq K Shell Inv 31.53 Inv Pld Inv Wl 5.CS Skki' Rainier vita cd.i 1J.7J 3.30 19.25 3.W rso Gronth Equity Ui Grcuptd Income 3.61 3.S5 Investors Glh 10.99 12.01 Inveltai Mil ..530 5.79 105 Venlure <.24 iK Wulual Acccm. 5.74 Muini cm F 30.12'A Rn 11 75 Principal Glh Provide nl Mil 6.71 7.3i 2Y.5S iM 5.97 5.30 5.83 7.55 8.25 4.97 5.41 Reqfnt Fvnd 8.74 9.40 13.75 RoylurJ 9.10 8 i5 27.00 2.15 1.70 7.CO 9.00 T.19 1.35 1.12 Accum. J.B1 5.29 VANCOUVER CALOARY Acrcl...... Oil .77 305 3.F.O 4.10 North Ccr.t Pele West Warr.er Ltta-. Cal MaJison OulnaUa .07 RexiWf......21 PIPELINE STOCKS Ma. Gas Tr. A Alia. Gai Tr. A'.i 43.00 Alia. Gai (Nat.) 22.25 Cdn. W.N. Gas 15.00 :nla-d Nat. Gas 1.15 Anjfc 1.43 Arctic Wising .CJ'4 Atlas MV, EElh. Copper 03'A Bcrnlle Rlise 36 Block Brcs .05 Brenda Erenmac B.C. Sugar Cast. Inter Ch'jrcKII 1.40 H.75 .19 5 6TO 13.50 .90 17.50 500 573 funds strong, the more the private money market is per- mitted to meet the demand, the better for the government. MUST KEEP LIMITS The government, obliged by international agreement lo keep the exchange rate of the dollar within limits, has to meet exces- sive demand for Canadian funds in exchange for U.S. dollars from its exchange fund account. When the demand for such in- tervention is persistent, the ex- change fund account must be replenished with govemmenl cash, reducing its budget sur- plus. The Bank cf Canada said re- laxation of the restraint on swapped deposits would have no effect on government require- ments dating from 19C8 limiting the acquisition of foreign cur rency assets outside North America by Canadian organiza- tions. Ths measure was imposed to bols'.er U.S. restraints on an outward flow of funds through Canadian intermediaries. Those restraints remain in force. Medium cows 22 to 23; can- ners and cutters 19 to 21. Good bulls 27.00 to 28.70. Good heavy feeder steers 31 to 32; medium 23 to 30. Butcher hogs soM Mondav f.o.b. Lethbridge 30.65 to 31.05 aase price. Calgary livestock CALGARY (CP) On offer lo 11 a.m. about 725 head; most- ly slaughter cattle. Trade was active. Slaughter steers and heifers were steady, cows were strong ar.d bulls were steady. Choiw slaughter steers 31.75 to 32.20, good 30.50 to 31.50, me- dium 29.25 to 20.25. Choice heif- Hog Prices EDMONTON' (CP) Prices provided today the the Alber la Hog Producers' Markel TOKYO (Reuters) A group I of su leading Japanese steel milk has sigr.cd a U.S. contract to buy iron ore from Canada on a long-term basis, the Kawasaki Steel Corp. .nr.our.ced today. Kawasaki, speaking for the p-oup, sail that under Ihe con- reel signed with the Hanna luring Co. Ltd., a maximum of tons of crashed ore Columbia 8.50 Ccrcnatlon Credit Crestbrook Croyden Dolly Varden Dynasty Norih, Cfr.r'ral For! Reliance 1.35 9.25 .47 .40 11.00 Granls'e Key Indus! Hys Inl. Brew. Jericho Kamlocps Lorr.ox. Lyllon m-i SIGNS LIMITED APPOINTMENT High Flai May 273Vz Jly Oct 267% Nov 263Vi Raptsecd Mar 264 May 266 Jly 257'.s Nov 220 Oats May 74 Jly Ort Dec Barley May Jly Oct 106 Dec Hye Dec Bye May 105U Jiy Oct Low Close 266'i 263 257K 25914 2511's 218 105's 27.T.4 207 Vi 263W 263 257 S 220 74 106% IW'.B 106 MISCELltNEOUS INDUSTRIALS Atco IntJ U.75 Gai .7 Agrafe 2.70 Gil Metro p A J7.00 Aqiiala-ne 23.61Va Trans Ca.i 27.50 Brit Wld Jtu Trm Cn 2.EO 37.00 CcJn Brew A Pld 30.W Trans Can Pipe A 55.00 Cdn Brew B Pld 13.S7Vi Trans Cart Picw w 8.75 Cdn Pa: Inv Pld Ji.OO Trns Prairie Pipe 13.50 CPR Pld..... S.mj Westcoasl Trans 21.50 Ind 57.00 Weslern Picilic i.10 Cycnus A J 55 MUTUAL FUNDS Mr. Gl Cdn O Sar.d 5W All Cd.v Ccmp. 7.35 B.03 Madrona C-t Cdn Oil S 6-75 55.00 All Cdn. rjlv. S 63 SJ3 He" Crcnln Home A 1S.37VJ All Cin. Venlrel t.tS III" In-.p. Mines 18.00 Axe.-. Glh F S23 Okanigai heliccp. 3.ii 2.75 Canada 6.21 6.B2 Cdn. Invest F t.ll I 67 Pyramid...... Collect Mil 694 7.A7 Silver Slandsrd 2.00 22.IJ 13.07 K.32 T.C. Ex.......It, IJ.fri'A Lev 3.59 3.93 Trojan.......60 5M Corp. Inveslcrs 5.64 Mints J.25 853 F U.S. 11.72 17.E4 Res .22 2E SO Federaled Fin. 4.5i 5.07 Western Explsra Federalcd Gtn Horr.t B Hcrr.e, Hud Bay Co Hud Huch Rus Pfd Husky Oil Husky Oil Int Pro Wl lr.r UI11 Pfd In! Sleet, Pipe .31 7.S-J 15.50 .55 3.75 3.50 lll'A 9.00 3.20 .15 .0 .09 2.60 ing Bozrd: 30.55 t Average French Operation Regains Territory ..FORT LAMY CAP) French troops and planes, with support from a Chad motorized unit, re- gained control of the country's rebel district along the Libyan frontier in a five day operation officials reported Monday. France's 18 months of interven- tion on the side of the Chad gov- ernment has been aimed at an estimated rebels, about half of whom are Toubou tribes- men. 30.50 Averag Edmonton: Quoted 31.05, selling 20.75. Monday 30.56. Red 'Deer: Quoted 30.70, selling 30.50. Monday 30.73. Calgary: Quoted 30.80 to 30.SO, selling" 30.BO. Monday 30.89. Lethbridge: No sales. Aver age Monday 30.90. Lloydminisler: No sales. erage Monday 30.30. Total hog sold 1.087. Sales Morxiay average 30.65. No sows sold. sics s.ss uika.........i.to TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Curies) a.m. Q-joles) a.m. Qjo'es) INDUSTRIALS pgilvle 15.50 Eait Sullivai 7.05 176.00 13 '5 V-iS txiW be supplied annually UK Carol Lake mine in ewfoundland tor 15 years after 9T3. The shipping port ivo'Jld be Sept-lies, Que., it said. The Carol Lake mine iww is jeing explored by the Iron Co. of Canada, tffiliattd with and-based Hanna Mining, Ka- wasaki said. PROTESTER Demand' tag more catnip, toager nap time and solltr pillows, this kilten joins the ranVs ot young activists voicing protests. One-Bushel Delivery Quota Set WINNIPEG (CP) The Ca- nadian wheat board today an- nounced new delivery quotas effective immediately for a number of prairie points. A one bushel quola per specified acre is effective at six Saskatchewan points while two bushel quotas go into ef- fect at three Manitoba loca- tions, 20 Saskatchewan centres and 12 Alberta points. ONE OF FIRST The camel was one of the first animals domesticated by- man. Beef Futures WINNIPEG (CP) Trading was light on all futures with prices unchanged to 10 cenls higher at. the Winnipeg beef futures market today. Open High Low Close Tour May 31.75 32.00 31.75 32.00 31.75 Jiy 31.15 31.30 31.15 31.30 Sep 30.35 30.35 NOT 30.25 30.50 MEN NEEDED In this arei lo train as LIVESTOCK BUYERS LEARN TO BUY HOGS, VEAl, LAMB AND CATTLE at salts barns, farms, ter- minal yards and buying Italians. We prefer to iraln 21 and over with or farm experi- ence. For local interview write, age, phone and live- stock background. NATIONAL MEAT PACKING 3435 Broadway Kanwi City. Mo. 64111 106 IftMs Dec 103V4 105 MS. M. i. PROSKOW Mr. K. C. Brown, President hikes peasure Hi announcing, the appointment of M. J. ProsVow as General Manager of Hook Signi lelnbrldge ltd. Mr. Pros- kow assumes position of T. Dowion, who hoi relired from the Company, Potato Prices WINNIPEG (CP) There was no early trailing in Ihe Marilimo potato futures mar- ket Monday. Open High Low Close Thur Apr 2.80 2.90 May 3.55 3.55 3.60 Nov 2.40 2.40 Afcilibi Alcan Algoma Alto Ini..... Allan Sycer Bell Tel..... Brazil Trac B.C. Tel..... Burns B.C. Forest B.C. Sugc' CAE Cdn Biew Chemcell Col Celulose Cal Pofter Corcn Credit GAs Cdn Irtfust Canada 5 S Ccfn w.arcwl Cdn Vickeis Chrys'er CPR........ Ccminco Cor.s Barn Gai Dlst Sea rjo-n Bridge Domtar Dsm Textile Dom-S'cres DC.TS Pete Fam Play Fd ol Arrer Gt Cdn Oil Gtn Colors Gt Lskes Pap Golf Oil Cda HaV.ktr SI3 Karen, Erie Hiram Walk Imperial 0.1 Imperial To5 in uickti Int Pipe Ifiv Gp A Int UtiriliES indL-sf Acce.it LaurtnliJe Kelly A Loeb...... Loblaw A W.dro Stores Maiiey Fera McVillan Bloe A'ocre cerp A Malson'i B Uorlh Cent 11.50 2SJ5 1J.OO 15.W Ogilvle remb-na Pp Corp Price Co Rclhrr.ans nVi St Corp CDA Simpson's 6135 Simp -.ears cf Can Selkirk A Texaco Gp A Trans rV.rn Pp Trais Can Pp Gas Ur.Tsn Oil Versatile Mfg Vf'pslec! Unicn Car B Woodward's A v.eil Cdn Sd 7pnilh tfpc '1.SS "ANXS Can Imoefiil Wor.Veal Nova Scotia Royal Tor-Dom MINES Fiiil W.ariiirr.ss C.iar.l Y.K..... I Gwtdrum 27.75 23.0) 1.35 9.7S 11.CO 26.C4 '.35 7.75 5500 2J.37V; 15.00 21.25 15.00 12.00 1JOO 11.75 iJ.CO 500 Acnp Asb. Area Mi-es Barnaf Bflcher Ircn Black Bay Bralcrr.c- Brc-L'lan Belh'ehem Grandee..... Heateay R.L. Hollhger Hud. Bay M-S Hydra Ex: ECU Langls Sil.er V.acassa Madsen R.L. W.alartjc G.F. I iv, Martin McNeely '.'aybru.l Intern W-ogul Ncv; Athona lievi Calurr.el t Kevj Imperial Hvanis S.10 1.15 i 15 Tung. XP.CO Cassiar1 2162V: Central Pat. p'm Cfcimo....... Cwiv.est U 75 Con'. Ramb'er 11) Coil 7.CO Cocher.xjr 517V, Crohmcnt DitXer.son Wr.e 23 00 De.-.rscn Wines 15.25 Dffr Horn 311J1.1 D'EMM..... 35.87Yz DlT.e Mines 1B.OO Donalda Discovery Mini 12.75 East Ms'artlc 7.15 .S! 2.JJ .S3 3.IS 2fl'w 6.M l.SO 1853 3.20 1.45 13.00 1.K .70 .52 11.75 1.95 .13 61.K) 1.31 1.35 Osisko Patino Pine Pelr.l Placer Dev. P.C. EXB Oussec Man Rayrock Radicre Rio A'gc-m Rowan Corp. Silvcrlield; She mil Gordon Silver Miller Sleep Sijcce Tck Ccrp Texmcnl Upper Canada ft'.i-es Wright Har. WFIIroy t Br. .33Vi 2.SS 2.3S in 1135 30.00 3.50 5.35 .lO'.i 1.27 .8) .17 .73 m oo .35 .33 .27W 565 M.17Vj 1550 13.12V] J9.75 37.50 AirCanada jets you to Britain 3 times a week. PipPipHooray. 33 .fff.'i 2.SS 7.10 .67 3.CX) 4 75 1.B 1.1J 6.00 Queen To Officiate At Scout Jamboree OTTAWA Eliz- abeth will open the second Arc- tic and Northern Boy Scout Jamboree July 10 at Churchill, Man., the national council of the Boy Scouts of Canada an- nounced here. TOWN OF PICTURE BUTTE Swimming Pool Staff The Town of Piclure Bulle will receive until April 10th for the under noted positions fo mence about May 15th, 1970. POOL OPERATOR TWO SENIOR LIFEGUARDS TWO JUNIOR LIFEGUARDS PleosD submit qualifications and salary expected in letter of application addressed to the undersigned. H. MORIYAMA Secretary-Treasurer NEW YORK STOCKS Supplied hy Richardson Securities of Canada Arr.cr. T. T. 57.7J Ward 54.H 70 Gelds 162.73 up 1.62 Anaconda 7J.12V; Sears......61.00 13 B MelS I14.8S tp .70 Steel 21.50 S'aHflrd Oil N.J. S7.37Vj OSS 193.81 ofl .47 Cl-rysler......27.50 Texas Gull 118.75 VcJu.re (27.00C. Cciisal........37.25 Texas Co.......77.15 NEW YORK AVERAGES Dupo-l .......96.50 Woclvwlh 3J.87W 33 Ir.dist 783.7! ofl .86 Gtreral 74 CO WttlingnouK El 20 Rail! 172 IS .04 27.50 U.S. Sleel 37.ini 15 UIIU 117.7i up .C4 Int. Harvesler 29.25 TORONTO AVERAGES a Stock; .261.0 olf ,11 Kf.-i. Ccprer 55.25 Indjst W.SJ up Net Earnings By THE CANADIAN PRESS Canadian Delhi Oils year ended Dec. 31: 1969, 21 cents a share; 1968, 20 cents. Central-Del Rio Oils Ltd. year endctl 1969, 31 cenls a share; 1908, 27 ccnls. Imperial Tobacco Co. of Can. ada Ltd., year ended Dec. 31: 1969, 1968, Husky Oil Ud., year ended Dec. 31; 1969, 76 cents a share; 19C8, Industrial Acceptance Corp, Ltd., year ended Dec. 31; 1969, a share; 1963, NABORS DRILLING LIMITED Dividend Notice Notice is hereby given Ihol i semi-annual Dividend of fweTve and one-half ccnls [121'ic) per share on the oul- standing no par value mon shares of Ine Company has declared payable May 1, 1970, lo Ihe Share- holders of record at the close of. busir.csl April 10, 1970. iy Order