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Lethbridge Herald, The (Newspaper) - May 4, 1972, Lethbridge, Alberta quotations Vancouver, Calgary, MPs by Dohcrtj'. IMcCnnii; Limited) LAST BID 01! SALE B.m. Ouoletl H.rrr. QuolPSl f.m. QuoleS) fff f Not muc evident TORONTO (CP) The Toronto stock market edged fractionally higher in quiet mid-morning trading today, erasing declines suffered during the opening minutes of the session. The industrial index was up .01 to 197.30 and western oils .17 to 2in.11. Golds were down .46 to 131.08 and base metals .51 to i 3.62. Volume by 11 a.m. was shares, up from at the same tune Wednesday. Banking, beverage, industrial mining, real estate and paper and forest issues edged fractionally higher while communication, oil refining, pipeline, steel and utility stocks remained lower. Great-West Life was up !-j to SCTii, Bank of Nova Kcolia to SWA, Wiley Oilfield to Cassiar V, to and Chieftain 20 cents to Inco climbed 'i (o Woodward Stores A to Pine Point 'A to S34-S, Labaft to and Laidlaw Motorways It io Falconbridge dropped 34 to S79, Slater, Walker to 518'i, Harding Carpels A to S19, Ranger to and Trans-Canada Pipelines --s to S43 DECLINE MONTREAL (CP) Prices declined fractionally on trend today Montreal stotk market oday as all sectors hut banks registered losses in light trading. On index, U'LTC down .38 to 201.111, utililies .lit to 1B2.55, papers -01) 10 IM.44 am the composite .211 Io 200.45. Banks were up .35 to 263.70. Combined volume on the Montreal and Canadian slock exchanges at 11 a.m. was shares, compared with shares at the same time Wednesday. Falconbridge Nickel was off 1 to Asbestos to Peoples Stores >z to S22'.'i, Interpro vincial Pipe Line Io and Steel Co. of Canada to f3p. B.C. Telephone rose to and Simpson's to S2ol i. TURN UPWARD NEW YORK (AP) Bliieclnp stocks turned upward today, but the market as a whole was slightly lower. Trading was relatively light. The noon Dow Jones average of 30 industrials was up 2.79 at 936.26. Analysts said news of the Communist offensive in South Vietnam and the recent price rollbacks ordered by Ihe Price Commission continued to weigh on the market. Thte Associated Press co-stock average was off .1 at 330.2. Noon prices on the New York Stock Exchange included Alaska Interstate up at Seaboard World Air ines off 1.3 at and Whittaker off Among Canadians, International Nickel added Vs to SSl'.-i, Walker Gooderham to and Canadian Pacific to Losers included Mclntyre Porcupine off 3 at Dome Mines down at SG7 and Granby Mining off Vt at On the American Stock Exchange, Brascan was off at and Scurry Rainbow Va at 1 Ifl Husky Oil B 41.50 CALGARY fCP) Hcceipls on the Calgary livestock market to H a.m. totalled head, mostly slaughter cattle. Trade was active. Slaughter steers sold 50 cents lower, heifers were sleady. Cows were mainly In lower grades, all selling sleady. Insufficient bulls on olfer to establish quotations. Choice steers 311.50 to 36.80, good 35.25 to 36.25, medium 34 to 35. Choice hellers 31.50 to 35.40, good 33.25 to 34.50, medium 31 to 33. Good cows 27 to 28, medium 25 to 20 50, canners and cutters 24 to 24.50. Replacement cattle were mainly steers weighing 900 to pounds and heifers in the COO to 700 pound range. Prices were generally steady. Stock calves were scarce but sold steady. Good feeder steers 750 pounds up 34.50 to 37, good leeder heifers 32 to 35. Good stock steer calves 40 to 45. Good slock heifer calves 34 to 40 depending on weight. No hogs were reported sold to 11 A Vy PAUL JACKSON' Herald Ollawn Bureau OTTAWA TITO Alberta MPs have suggested that Regional Economic Expansion Minister Joan Marcliand's controversial program of industrial incentive grant handouts is not administered as well as it could he. One of them. Jack Crowfoot) said point blank that if the Canadian taxpayer was to get a fair return for his dollar the department should be pouring money into British Columbia. it is, British Columbia gets only a small percentage of industrial development Incentive grants. The other MP, Don kowskl, said It appeared to him that many grants were handed out to industries to expand in one location only to see a segment of the industry fold In another location. This didn't help cut unemployment at all, ha contended. Mr. Marchand, who has come under severe criticism from some Opposition MPs for thn way millions nf dollars are hanc'ed out under the DREE program, denied the contentions. Ontario New Democratic Party MP Ed Broadbent has already told the standing parliamentary committee on regional development that over almost a wo year period British Columbia's share of the grants ranged from 0.5 per cent to three per cent. Mr. Homer couldn't understand this at all-Mr. Mazan kowskl Vegrcville) said from recent actions of the minister's department it appeared as businessmen were encouraged to let their operations get into a rundown shape so as to be eligible for grants. He also wanted to know whether the department tried to ESSCSS the impact a new operation, financed partially by industrial incentive grants, would have on similar established companies in other parts of the counlrv. The Alberta MP said he recalled that money was given to one packing plant to establish ID Lethbriclge, Alia. The result was that two packing plants in Calgary folded. Mr. Marchand said he understood the two plants in Calgary would have closed in any case. The minister said obviously his department tried to assess (he impact a new plant would have elsewhere. It was common sense that money wouldn't ba given to a company to build one plant if the end result was thai another plant would have to close down, throwing men out of jobs. "As a taxpayer I would like to think that the government gets the best value for my dollar. In doing that do you not think that the government should be looking at the area which has tha greatest natural potential development. Just looking at tha tables that were distributed, obviously, British Columbia has the greatest natural potential But obviously your departmenl has not been aware of it. You are not spending any monei there at Mr. Homer told Ihe minister. Mr. Marchand said that was an old argument. He said British Columbia is In a much better economic position than Nova Scotia, Prince Edward Island or Newfoundland. "Who's judging it to be in 3 much better shff back Mr. Horncr. "We judge that in terms of income employment. There are some objective criteria. You know that people are much richer in B.C. than in answered Mr. Marchand. Mr. -Homer said it seemed to him thai the department was feared to pouring money into re-g i o n E where unemployment ralher than into areas with the greatest growth potential. "In mnny cases the unemployed are unemployed in a region because of the uneconomic factors ,n lhat region. Grants. I think, in the 'ong run would be more r W. Horse Copper 2.51 Domlar 1300 Noranda 37.50 Dom Textile 26.12'A Tor-Dom 32.00 'Neiv York stocks (Supplied By Richardson Securities of plan rej By ItOSS GIUB Herald News Service TABER Town council turned thumbs down on a verbal request presented by councillor Bruce Milliken, that a portion of William E. Valgard-son's property west of 50th St. and south of 44th Ave. he zoned industrial to accommodate his transit-mix concrete business. Mr. Valgardson will be told that there is adequate space in the industrial park for his business enterprise. Council tabled for study, after considering favorably, a request by V. Jerome Plait that pre serviced Jols be sold on a two-instalment plan, though his suggestion of a 10 per cent down payment was considered too ected Mr. Platt was representing K a n d D Construction (Kenneth and Delynn Leavitt, who propose development of three residential lots. The proposal was that the final payment for the prepaid service lots be made when mortgage money is available. The sticker is that the property Lille must he in the bands of the mortgage company before money is paid on the development. Initially announced as Heritage Inn and later as Majestic, Taber's first motor hotel development passed another green light when council voted ''no objection" to the development plan presented by developer IS'orman A. Long. Council's action was in response to correspondence from the Oldman River Region Planning Commission which presented a subdivision proposal for some 14 acres of formerly California Standard property on which the motor hotel will be built. It was Indicated at the meeting that Ihe plan will now be registered so that the development may proceed the property is owned by Mr. Long. The developers were unable to register the "Heritage Inn" name hence the change to Majestic Inn. The new name reflects a former use of the land, for it was here that the Majestic mine was located. Mr. Long will be making application to the town for water and sewer connections by which the services he will install may be connected to the town's service mains on 50th St. at either 44th or 45th chief praised at funeral WASHINGTON (AP) President Nixon paid tribute today to J. Edgar Hoover, calling him a giant, a legend and an American institution. Nixon said the Federal Bureau of Investigation, which Hoover spent 48 years building into a world-renowned law-enforcement institution, will stand as a living memorial to Hoover. And he called on Americans to live the spirit of law and order as a continuing tribute to Hoover. "J. Edgar Hoover loved the law, his Nixon said. "He loved the law, his country. And he richly earned peace through all eternity." Nixon deUvered a eulogy to the FBI chief at the National Presbyterian Church, where Hoover had been a deacon. Hoover was found dead at his home Tuesday. The church was filled with presidential aides, cabinet members, members of Congress, diplomats and public Rapeseed oil rates wrong c? savs Peacock SASKATOON (CP) -Rape-seed oil and meal should travel to eastern Canada at Hie same low rate as unprocessed rape-seed. Fred Peacock. Alberta's minister of Industry and tourism, said Wednesday. He told a Canadian transport commission hearing into freight rates that traditional transportation policies force the West to have ils raw materials processed in the East. Current freight rale structures encouraged economic growth in a few metropolitan areas the remainder of the West will be an economic wasteland characterized by the absence of opportunity." The growth of the rapesecd-processing industry in the West could help counter this trend. Mr. Peacock said that initially, the West lacked people, capital and technical knowledge and ils only capability was the production of raw materials. In that E'.lurMca, low freight rates for moving raw materials out of (be West were of b c n e f i t of both West and East. However, a policy which c larges a higher rate for processed goods is no longer in the jest interests of the country, he out for CBC position OTTAWA (CP) A new element has been added to speculation about a successor to CBC President George Davidson. While most discussion lias centred on lop French-speaking executives in the CBC or government agencies, it was learned today that Toronto lawyer Richard Rohmer has been approached indirectly. In a telephone interview from his Toronto office, Mr. Rohmer confirmed reports circulating here that he was sounded out by a source close to the cabinet about the CBC job shortly after Mr. Davidson submitted his resignation to the government April 10. Mr. Davidson is taking a top United Nations post Aug. 1. MY. Rohmer is a top adviser to the federal cabinet on northern affairs and also heads the Ontario royal commission on book publisliing. The 48-year old lawyer said he "would be prepared to consider" a formal offer of the job. Mr. said he is familiar with broadcasting matters from liis years as counsel for the CHUM" Lid. radio and television group in appearances before Hie Board of Broadcast Governors. The BBC. was replaced as federal regulatory body by the Canadian Radio-Television Commission in branch based in Alberta TORONTO (CP) Canadian General Electric Co. Ltd. announced yesterday the formation of a new Alberta-based c o m m u n i cations subsidiary called Genelcom Ltd. The new company, which will be based in Edmonton, will assemble and test standard mobile two-way radios currently manufactured in Toronto. The operalion for re-conditioning used two-way radios, now n Vancouver, will also be transferred to Edmonton. The company said the 15 employees who previously marketed the equipment have been transferred to the new subsidiary. A spokesman said additional employees would be hired, but for competitive reasons would not say how many or reveal producliors in oil dollars for nation OTTAWA (CP) Higher prices charged for oil by Middle East governments will help produce trillion in revenue for Canada, petroleum industry representatives said here. H. C. Van Rensselaer, vice-president of finance for Bow Valley Industries Ltd., told reporters there could be 300 billion barrels of oil recoverable from (Jie Alberta oil sands over a 40-year period. To date the cost of extracting the oil in usable form has beei too high to be profitable. But the oil-rich Middle East states were jacking up their prices and in a few years it would he economic to begin large-scale commercial extraction. Mr. Van Rensselaer predicted that the selling price of oil In the U.S. now about a barrel, would rise to His comments came at an informal ncivs conference held at the end ot a two-day closed meeting of the Independent Petroleum Association of Canada. Mr. Van Rensselaer is a past director of 1PAC. Carl Nickle. publisher of the Daily Oil Bulletin and a past president of IPAC, said by 1176 (he Middle East countries will be able to exert tremendous pressure on the non-Communist, irarld by Ihrealening to cut off their oil supplies. If the Western countries did not develop other sources of requests fingerprints of customers EDMONTON (CP) All Peter Trynchy wanted to do was cash a S1G cheque for groceries. All the food store wanted was a copy of his fingerprints. Mr. Trynchy (PC White-conrt) related the story to the legislature and asked Attorney-General Merv Leilch if it was legal for a store to request fingerprints of customers wanting to cash cheques. Mr. Trynchy said he could understand why the store, owned by the IGA chain, would bo hesitant about cashing a cheque, but be couldn't under-si and Ihe request for fingerprints. Mr. Leilch said he would look into the 19.37Vj Sid. Oil erf N.J. 10 Base Met 95.52 olf .61 Belh S1eel Texas Gull 15 West Oils 212.W off Chybler 34.1 2V'a Texas So. 30-1 2'A vninme Cera 42.50 NEW YOSK AVERAGES Duponf 162.75 3B.75 JO Indust 936.1J 2.A3 Gen Molors 78.00 VJeslinghouse El 53. DO 20 Rails 253.30 up .38 H U.S. Slecl 31-75 IS Ulilities 109. 88 up .a Kcnn CoDpcr 3375 TORONTO AVERAGES 65 Slocks 31B.H up .69 Ward 2S 25 50 Indust 177.22 off .07 Volume price review Winnioea Grain Jul-v 69A; Oct. not r 3" open. WINNIPEG (CP) -nape- Barley: May unchanged seed prices dropped oil as l-OS'iA; July not open; Oct. 11 much as two cents al mid-ses- liigner sion on the Winnipeg Grain Rye: May not open: July Vs Exchange today. lower Oct. Vs higher Trading in that commodity was sloppy, mostly liquidation 2uotcs Wednesday (ba-and local and commission 51S house selling with limited buy- H'Sk er interest. Flax sold moderately on a scnlc-down price pattern while rye prices fluctuated iu a fair 277 -'s 2'6-8 and commission house VancoIITCr .Tun 2S7 203 li 263'i The rest of the market was s ,30u featureless and quiel. Volume of trade Wednesday jrn ___ ___ was bushels of flax, ThmiuYr Bav of rayicseed and jjav 251' i ''I'OM "57' i if ByGeno FawcettG i-OOPA ,TVS. DRUG CAUSING CURRENT OPTIMISM IN THE TREATMENT OF PARKINSON'S -DISEASE.HAS A NEW AND POSITIVE SIDE EFFECT. OVER HALF OFTHE PATIENTS TESTED HAVE HADTHEIR INTELLIGENCE INCREASED BY10POINTS AFTER A 5TOB-MONTH TREATMENT... i ...WHY? ONf THEORY IS TMTirSAKIND "MOWS" -ORAWBCirCOMeSFXOM iHcuuseo prices EDMONTON (CP) Average prices to 11 a.m. provided by the Alberta Hog Producers Marketing Board. Edmonton: 29.25, average Wednesday 29.45. Red Deer: 29.25; average Wednesday 29.33. Calgary: 29.20, average Wednesday Lellibridgc: N i 1, average Wednesday 29.10. Lloydminster: Nil, average Wednesday 29.45. Grande Prairie: Ml. average Wednesday Fort Macleod: Nil, average Wednesday nil. Total hogs sold Wednesday, average 29.41. Hogs sold o 11 a.m., Sows average firefighters TOROXTO (CP) The city's firemen became the highest paid firefighters in Ontario as they ratified a two-year contract giving them a 13. 58-percent wage increase. William Goldson. president of the Toronto local of the International Association of Firefighters, said the contract, giving a first-class fireman a salary of this year and next, passed by a good majority. Toronto's firemen, also the highest paid in Ihc province last year at had asked for a I5-per-cenf OFF LIGHT The wings of the butterfly are colorful because they are crossed by many minute ridges which break up the light into iridescent n! rye. jiv 255 '2 257 MID-SESSION OcL 2rJ'i 231 'i 257 Flax: May lower Nov 2303.L .luy lower 2.75'.iB: Oct. '2 Oats lower Nov. lower May 2.74-'BA. C9 Rapcsccd Vancouver: June Oct .J 1'i lower 2.62; Sep 2'j lower Barley Nov. 1 lower 2.53'iB; May 10fi-i. Jan. Pi lower Jly lMEa Rapesccd Thunder Bay: May Oct lll'z lll'a H1H 2.5C; July lower Hyc Ocl 2 lower May 103'i 102'a 103'i Nov. lower 103'i J02'a 103'.i Oals: May unchanged 69A; lOct 102U 10Mi cina ft cms 1003 4th Avenue 5., leihbridge Telephone aDatcw i-cccsfiiKj SIMPSONS-SEARS CORRECTION! rho flem, Elegant 2-pce. Traditional Suite, pictured in i our full pafjo advertisement on Page 34 of yesler-dny's Herald was priced nt Qfi This price was incorrect, JSS3JJ and shoud have appeared al Sorry for ony inconvonioncB Io our River delta oil they ivould be at the mercy ol the Middle East stales. By W7II, he said, the Middle East slates would have amassed enough cash from oil sands to stop all sales for a minimum of two years and still finance all their spending. The Uivlod Slates, he said, has only CO Io 70 days of oil reserves at any one SALESMAN Progressive deolership handling complele line of Ford cars and trucks, inviles applications from competent professionals to fill two vacancies on their small, well-trained sales CALGARY (CP) The Salvation Army's blitz for financial support a tola! of Mrs. Ilhodn Mills, blitz chairman, said here. The blitz objective was of a lolal' Hod Shield ob- i eclive of "Tho citizens of Calgnry, per capita, nro Ihc best supporters if flic Salvntion Army in (he vhnle of Canada. said nrifin-ior William Shaver, public re- 1 utjons officer for the army. EXECUTIVES Lease Their Business and Personal Cars BECAUSE Leasing can bo loss expensive Hum buying Leasing is limo saving and convenient Lsaiing simplifies your tax records No cash investment required For Ih0 comploln facti on loosing contact BORIS KORESHENKOV, Looting and Inlurnncn Rep. BENY AUTOMOTIVE ENTERPRISES LTD. 3nd AVE, and 8lh STREET S. PHONE PROFESSIONAL, WE REFER TO A STATE OF MIND, RATHER THAN fii lures WINNIPEG (CP) I.lvo beef futures close Wednesday. May 3fi.SH; Jly 35.50B; Scp Tuesday's volume: 12 con- j Lracts. you have n solid record of accomplishmenl, and 'nro challenged by Ilio concept of contributing to Ihe further orowlh of a 300 to now cor operation. In excellent facilities which dominala the r rural location, we offer opporlunilio.1 with obovo ovcraae earning potential. Reply ni'ving complete relume to BOX 8, LETHBRIDGE ;