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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 4, 1970, Lethbridge, Alberta Market Declines In Light Trade TORONTO (CP) The To- ronto stock market was down sharply in light mid-morning trading today under pressure from an apprehensive New York market.- On index, .industrials were down 2.23 to-168.84, base metals f.49 to 103.64 and western oils J.55 to 150.55. Volume by 11 a.m. was shares compared with at the same time Friday. Investors at New York waited anxiously for a news conference called by Russian Premier Ko- sygin on the Indochina situation. At the conference, held at 11 a.m. eastern daylight 'time, the Soviet leader criticized what he termed the United States' ag- gression toward the people of Cambodia.' The D o w -J o ne s industrial index dropped 10.43 points to 723.13 by a.m. 'On Thursday the United States 'aunched ah attack against a Communist base in- side Cambodia." At Toronto losses outnum- bered gains .237 to 64 with 173 issues unchanged. BANKS DOWN MONTREAL (CP) The Montreal stock market followed Wall Street lower in light early trading today. Industrials and led declines while papers advanced. IDS Ltd., which has suffered heavy losses recently, was off five cents'to 4.30. The mutual- fund firm said it had dismissed 65 of its Geneva staff bf and is considering the dismissal of another 100 employees in an effort to cut the'IDS budget. Highlighting early -losses, CPR dipped" to Sea- grams to 49, Labatt to-25, Cam-on to' 15% and Boyal Sank to 1 Among senior mines and oils, Inco fell 1% to 42% and" Impe- rial Oil to On index, industrials were off 2.11' 'C65 to and tte composite 1.75 to 165.77. Pa- pers were'up't.03 to'110.52. 5 Combined volume on the Montreal and Canadjan' Stock Exchanges at 11 compared" with saSe'-fime BWflap pJA DIPS "NEW YORK (AP) The stock market strengthened a bit at mid-day in'mpderajje trading today after Soviet P re Drier ilexei N. Kosygin's pews con- ference'm wfiich1'he denounced VT'O jn'Canibodia.'' The Dow Jones average' of 30 industrials at noon was down 8.05 to 725.58. Among the NYSE, Alcan was down In- ternational Nickel 1 and Granby Mining Mclntyre Porcupine was up 1% and Distillers Sea- grams Vi. On the Amex, Canadian Jav- elin was down Vs. Grain Prices Winnipeg Grain Price! WINNIPEG (CP) was light to the close of the Winnipeg Grain Exchange to- day with all prices moving on narrow' Flax and rapcseed posted fractional gains early in the morning but prices returned to previous levels near the close. All rye futures were off frac- tionally wiUi some commission aonse liquidation. Oats and bar- Icy were steady with a light do- mestic trade. Volume of trade Friday in- cluded bushels of flax, bushels of rapeseed and of rye. Prices for class two wheat for export to countries outside IWA: 1 Nor 2 3 4 .5 6 1 Durum 2 3 IGA prices: l Nor 2 3 4 5 5 6 1 Durum 2 3 Low Beef Grades Qiange Okay Is Awaited LACOMBE (CP) The Ca- nadian cattle industry has until June 1 to agree on proposals to the federal government to change beef 'grades, Dr. How- ard 'a researcher at ths Lacombe e x p e r i mental [arm, said Saturday. Dr. Fredeen told a meeting of beef breeders that the Meat Packers Council 'of Canada doesn't agree with a new set of standards supplied to the pro- ducer side of the industry, aim- ed at producing leaner beef with'less fat'trim. If the factions can't come to- lie ?aid, the Canadian Federation of' Agriculture and the 'Canadian Csttlemen's Asso- ciation''will likely" adopt the producer "proposal and ask the government to implement it Dr. Fredeen said there will be benefit .to all segments of the industry in the new grading standards. The producer would produce less fat on beef carcasses and would -receive more money. The packer and'the retailer would not "have 'to trim' excess fat- rldufiea. 'Hetailers jre abje fo exact specifica- tte costs of rempving waste fat'are reduced, prices to consumers would go down. Dr. Fredeen said present grading''- standards encourage the of over-fat beef wKctf industry doesn't want: 'K High Flax May 276Vz Jly Get 279y2 Nbv 272% Rapeseed May 285% Wheat Reduction Talks Under Way OTTAWA Ministers and officials of :the Jive main' Meat-producing countries talis about using production itrainf? to restore 'staSffity 'tfl. Mutted world wheat markets r-With yrorld prices'''irndercut- ting internationally-agreed floor rates for the third "successive year, Canada invited the United States, Australia, Argentina and the European Economic Com- mittee to discuss ways of reduc- ingsurpluses by individual crop-curtailment policies; J. Douglas Anthony, Austral- jan minister of primary indus- "jry, met Canadian ministers in CANADIAN WESTERN NATURAL GAS COMPANY LIMITED DIVIDEND NOTICE NOTICE Is hereby given that a quarterly dividend of Twenty Cents (20c) per share on the Cumulative1 Redeem- able Preference Shares "-4% Series of'the 'par value of each of the Company will be paid on the 1st day of June, 1970, fo all sharehold- ers of record at the close of business on the 15th day of May, 1970. NOTICE is also given that a quarterly dividend of Twen- ty-seven Cents (27c) per share on the Cumulative Redeern- able Preference Shares 515% Series of the par value of of the Company will be paid on the 1st day of June, 1970, to all holders of record at the close of business on the 15th day of May, 1970. DATED at Calgary, Alberta) this 29th day 1970. Order ef the Board, A. J. SMITH Secretary advance of the. openjng session in' the" afternoon. M. U.S. sec- retary of a'iriculture, and Sicco M 9 D s'h p 1 1, tjie- wbp serves' as agrictilture nnmster {or ftf six-natioii Kuropean common France is the main wheat flying in just before .the mtet- ing.'" Constantino Karnos, ambassador.' in 'Ottawa, was 243 Nov Jan Oats May 74JA Jly Oct Dec Barley May Jly Oct Dec Rye May 100% Jly 103% Oct Dec country's suppttied by; 'Argentine from the Mer- natimal Wheat Council in Lon- don.' Mr. Anthony, who flew to Ot- tawa from japan late Saturday ragbti'lRd dinner Sunday night with Otto Lang, 'Canadian minis- ter responsible wheat policy aind chief 'host 'delegate at two-day conference. He' had brief meetings before (he conference iopeped with Trade Minister Jeain-Luc Pepin aiid Jtinster H. A. Olson, who will act as a chair- man. CANADIAN WESTERN NATURAL GAS DIVIDEND NOTICE NOTICE i! hereby given that a quarterly dividend of Twenty th'ref' and three quarter Cents" (235-jc) per share on the Ordinary Shares of Company will be paid' on the 29th day of May, to all shareholders r'ecortj at the cjose of busi- ness on'the Uth day of May, 1970. DATED at Calgary, Alberfa, this 29th day of April, A-P- 1970. ly Order ef the loard, Secretary 274% 276% 276% 271 V'z 282 285 247% 241% 74 108% 103 V4 Close 275 278 277% 282 285'A 241% 74 74% 76 75 WWi. 108% 108V4 108 Vz Oil Company Stops Dialling CALGARY (CP) Gulf Oil Canada Ltd. announced it has abandoned drilling at its Rein- deer site in the Mackenzie Del- ta after reaching a depth of 300 feet. The oil rig will be moved nine miles north, said a company statement. The new well will be the second of three scheduled for the area, north of'Inuvilc, N.W.T. Net By THE CANADIAN PRESS Alcaii Aluminum Ltd.i three months endfd March 31: 1970', .'57 cents a share; 57 cents. Bell Canada, -three months enffed March 31: 1970, 87 cents a 76 cents. 'Canada Trist., three months ended Marth 31: '1970, 21'cents a share; 1969, 19 cents. Toronto Star Ltd., three months ended March "31: 1970; MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Ktxidhquse and McCuaig) LAST BID OR SALE 11-.00 a.m. Quotes) a.m Quotes) WESTERN OILS Atmtnex Asmera Banff Cdn South Cdn Delhi Cdn Ex Gas Cdn Grigol Cdn Homestd Cdn In Gas Cdn Long Is Cdn Super cen Del Rio Charter Chleftan Dynamic Pete French Pete Gf Plains Mill City New Cent1 North Cdn Numac Permo...... Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Spooner Triad West Decalta Int Pro Pips Wt inter Steel Pipe Jefferson Lake1. 10.25 8.40 3.60 3.00 3.85 6.55 Joutef Kaiser Ros Kam Kotia L Ont Port Cem Mentor....... Nc'.vcone Pacific Pete 1 an oxnii on.. '.80 25.25 10.00 7.50 1.49 5.80 1iM 1.55 1.1? 1B.OO 1.80 3.30 4.20 Hold' MISCELLANEOUS INDUSTRIALS 9.50 Rank Selkirk Shell I Shell Inv Pfd Shell Inv WIs sicks Ranlor' West Cdn Seed Whltepass Yuk CALGARY Acroll Ana Pete Barons Oil North Cent Plains Pete West Warner Leduc Calmar. Madison Qulhalta Rexdals PIPELINE STOCKS Alia. Gas Tr. 'A 40.00 Alta. Gas Tr. J'A 6I.1S Alta. Gas (Nat.) 1J.W Cdn. W.N. Gas Inland Nat. Gas North, Central 815 Growth Equity 5.97 6.54 5.75 Grouped Income 3.10 3.39 Investors Gth Investors Mil 4.94 5.43 IOS Venture 3.11 3.46 Mutual Accum. 4.67 J.ll Mutual Gth F 4.28 4.68 Mutual Income 4.51 5.01 Natural Res' 4.77 7.40 Principal' Gth 4.01 4.4> 12 37V: Provident Mil C: Allan Dshl, Magrath. TROMBONE B: Ray Dobek, Blair- more. D: Nell Foster, Lethbrldgej Thomas Carter, Magrath, E. Kenneth Dahl, Magrath. DIVIDENDS By THE CANADIAN PRESS Chrj'sler Corp. Ltd., 15 cents June 10, record May 11. ..Dominion Scottish Invest- ments Lin., pfd. GVfc cents, May 29, record Hay 15. Harding Carpets Lid., 12 cents, July 1, record June 15. Hinde and Daiich Paper Box Co.' Ltd., 45 cents, June 25, rec- ord May 29. Lafarge Canada Ltd., com- mon 13 cents; 6 per cent 15 cents; both June 15, record May 19. "St. Lawrence Corp. Ltd., com- mon 15'cents, August 1, record July 2; 5 per cent pfd.- July 25; record June 25. Vukon Corp. series June 1, record May 15. JIANy PRODUCERS The cultured pearl Is pro- duced o'n some 300 farms, Brptected bays and inlets el southern Japan. FOR GREENER LAWNS AND GARDENS GARDEN GREEN CROSS 22 Ibf. Coven sq. ft. WEED 'N' FEED ;