Lethbridge Herald, The (Newspaper) - May 12, 1970, Lethbridge, Alberta
Tuwday, May 12, It70 THI UTHMIDO! HRALD 7l Market Prices Continue To Fall TORONTO (CP) Prices continued Io fall off sharply in light mid-morning trading today at the Toronto stock market, de- spite a reduction in the lending rate of the Bank of Canada. On index, industrials were down 1.00 to 165.38, base metals .42 to 101.55 and western oils 2.40 to a low for the year ot 142.57. Golds advanced 1.60 to 160.56. Volume by 11 a.m. was shares, compared with at the same time Mon- day. Volume Monday was the lightest since July, 1962. Losses outnumbered gains 119 to 76 with 149 issues unchanged. The central bank cut its lend- ing rate to 7% per cent from 8. This means that chartered and commercial banks now can bor- row money on easier terms. The move is interpreted as an easing trend in a generally tight money situation. However, Louis Rasminsky, Governor of the Bank of Canada emphasized Monday night that the federal government did not intend to abandon its policy to curb inflation. The Toronto market followed Wall Street in its move down- ward. The Dow-Jones industrial av- erage was off 4.16 to 705.91 by am. Analysts had said the market would continue in its decline if it fell below 703 as the Dow average. LIGHT VOLUME MONTREAL (CP) The bearish trend, marked by de- clining prices and extremely light volume, continued today on the Montreal stock market. IOS Ltd., up 15 cents to 4.75, announced it has reached "agreement in principle" with John M. King, chairma'n of King Resources Co., for financial as- sistance to the troubled mutual fund organization. Under the agreement, Mr. King, and a group of U.S. finan- cial institutions, pledged to lend IOS up to over three years in return for equity par- ticipation in IOS at a share. Highlighting losses, Seagrams slipped 1 to Simpson's Ltd. to 15, Alcan to 23% and Toronto Dominion Bank to Ivaco .was off Vi to 5. The company reports first-quarter earnings equal to 17 cents a share this year, up from nine cents in the first quarter of 1969. Among senior mines and oils, Pacific Petroleum dipped 1% to Falconbridge 1 to 15G. im- perial Oil to 17 and Aqui- taine to Denison gained 1 to 31 on a 150-share trade. On index, industrials were off 1.48 to 169.45, banks '.06 to 169.39, Hie composite 1.05 to 161.57 and papers .19 to 105.68. Utilities were up .02 to 126.65. Combined volume on the Mon- treal and Canadian stock ex- changes was 191.600 shares at 11 compared with at the same time Monday. SLOW TRADE NEW YORK (AP) The stock market continued to drift lower in slow trading this after- noon. At noon the Dow Jones aver- age of 30 industrials was off 5.94 at 704.13. Though restrained, trading volume was somewhat higher than'in the last two sessions. Glamors were amo-g the hardest-hit stocks. IBM was down 4% to 281, Control Data to Polaroid 1% to Xerox IVa to 78% and Fairchild Camera ZVs to The Associated Press fiO-stock average at noon was off 1.9 at 247.3. Canadian Pacific was up 1% but many other Canadian stocks were down. Mclntyre and Inter- national Mckel were off a point, Walker Gooderham Alcan Distillers Seagrams and Genstar 54. Oh the American Stock Ex- change, Scurry Rainbow and Canadian Marconi were down and Jupiter Corp. Close Scrutiny Prevails In Israeli Television JERUSALEM (CP) About half the internal film items to be shown on tlw nightly newscast on Israeli television involve military censorship, says film editor Houshell Goldstein, a native of Ottawa. Although relations between censors and renortsrs and edi- tors are "very informal and there are of'en heated arguments regarding the practical versus th-: artis- tic, said the 22-year-old Cana- dian woman in an interview in Jerusalem. If a news orogram on Is- raeli television, which has been ooeratin? for neirly three years, lias anv film which might be subject to censorshiD, a representative of fhs censorship .deoartment comes to look it over. Anything involving wean- ons. licence plates, battalion movements, remmcr1: activi- ties and strategic position? re- sults in close scrutiny by the cepsor. Miss Goldstein recalled one incident when a censor or- derfid out film showing a half-track with a soldier and a mascot dog in it. said the scene was not "military-look- inp." All censored film has to be given to the censor or sent to the cersorship office as soon as possible. CAME FOR WEDDING Educated at Ottawa's Lis- gar Collegiate and Carleton University, R o u s h e 1 1. tall, with long black hair, large green eyes, and a figure which keeps Israeb' men's heads turning, left Canada in September, 1968, to travel uVoueh Europe. A couple of months later arrived in Israel to attend a girl friend's wedding, but with no idea how long she would stay. Because she felt "good" about being in Jerusalem, and found something "spiritual" about the city, she decided to remain. "One can easily look into oneself in Jerusalem. There is so much you can do on your own. It is a walking xind of a city." Roushell, who had worked one summer as a switchboard Anti-Inflation Program 'CrueP Says Stanfield PETERBOROUGH, Ont. (CP) Prime Minister Trudeau's anti-inflation program is 'cruel' in human terms and may prove wrong in economic terms, Con- Hog Prices EDMONTON (CP) Prices today provided by the Alberta Hog Producers Marketing Board: Edmonton: Quoted 30.30 to 30.30, selling 30.30.. Average Monday 30.30. Red Deer: Quoted 30.25 to 30.30, selling 30.30. Average Monday 30.58. Calgary: Quoted 30.30 to 30.45, selling 30.35. Average Monday 30.35. Lethbridge: No market. Av- erage Monday1 30.40. Lloyd minster: No market. Average Monday 30.20. Grande Prairie: No market. No market Monday. Total hogs sold to 11 a.m. 931. Sows selling 23.28. Total hogs sold Monday average 30.42. STEP UP EDMONTON (CP) The number of Alberta factories with annual gross value ship- ments of more than increased to 29 from eight be- tween 1962 and 1988, says the 1970 annual report of the prov- ince's department of industry. servative Leader Robert Stan- field said Monday night. Speaking at a party fund-rais- ing dinner, Mr. Stanfield also attacked the government for its criticisms of Auditor-General Maxwell Henderson, and warned that Information Can- ada could become a powerful propaganda instrument. The government has admitted that it is deliberately creating unemployment in order to fight inflation, the Conservative leader said. "There is a growing opinion among many economists that creating unemploment is the wrong way to fight the cost- push kind of inflation we must defeat in Canada. "In other words, Mr. Tru- deau's program is not only cruel in human terms; it may prove to be wrong in economic terms." His party supported the prices and incomes commission's at- tack on inflationary psychology. "But we cannot support the strains and agony which are bound to come when the govern- ment deliberately creates high levels of unemployment." Mr. Stanfield said he prefers to call Information Canada, the new agency designed to co-ordi- nate government information programs, Manipulation Can- ada. "Under any name or any gov- ernment, at any time, Informa- tion Canada, no matter how pure the motives of its creators, has the potential to become an instrument of propaganda so powerful that it invites abuse." Robert Stanbury, minister re- sponsible for Information Can- ada, had stated that he under- stands this danger. But as first chairman of the agency he ap- pointed Jean-Louis Gagnon, co- chairman of the royal commis- sion on bilingualism and bicultu- ralism and a distinguished jour- nalist. "H o w e v e Mr. Stanfield went on, "I must add that Mr. Gagnon is also identified in Who's Who in Canada as the founding editor of the Liberal newspaper in Quebec, a founding member of the Liberal Federation of Quebec, and pasl chairman of the Quebec Liberal Commission on publicity and propaganda." Mr. Stanfield said Treasury Board President C. M. Drury's attack on Mr. Henderson showed "the government doesn't care how it gets where it's going as long as it gets there." Last year the auditor-general found evidence to suggest that of public funds had been badly spent. "Rather than trying to stop the waste, the government is trying to stop the auditor-gen- eral. I premise you: They will have a fight on their hands." Ask for this booklet to learn how you may obtain an IDB loan to assist in starting, TERM FINANCING FOR CANADIAN BUSINESSES LETHBRIDGE, Alia.: 740-411] Aye. 328-9681 operator at CBOT in Ottawa, was accepted as a film editor trainee with Israeli television in January, 1969. Experts from around the world helped set up the net- work after the June, 1967, six-day war. Israeli TV now operates seven days a week with 42 hours of programming, six of it in Arabic. ATTITUDE UNHEALTHY Roushell edits national and international news film, and items for local reporters. She hopes to get involved in docu- mentaries and eventually 'ea- ture-length film. Not sure whether she will settle permanently in Israel, Roushell misses the vastness of Canada, Montreal night life and Chinese food. Her married brother, Franklin, 26, an electrician, lives in nearby Asbkelon. She takes advantage of in- expensive fruits and vegeta- bles but finds foreign goods extremely expensive. The Arab-Israeli conflict does not perscnaEy affect bar except for friends going into the forces for their yearly service. LIVESTOCK Lethbridge Livestock (Supplied by Canada Department of Agriculture) On offer to 11 a.m. 125 cattle. Receipts mostly good and choice butcher steers. Caitle market moderately active. Good and choice butcher steers meeting reasonable demand. Prices steady to a shade easier. Medium grades generally steady. The few cows on offer selling fully steady. Medium and good feeder steers sell readily at steady prices. Choice steers 30.75 to 31.50; good 30 to 30.75; medium 28 to 29.75. Good cows 21 to 22.50; me- dium 20 to 21; canhers and cut- ters 17 to 19.50. Good bulls 26.50 to 27.50. Good heavy feeder steers 30 to 32; medium 27 to 2D.50. Butcher hogs sold M o n day f.o.b. Lethbridge 30 to 30.50 base price. There were 215 hogs sold for export. Price converted to 24.45 livewcight. REPORT JJ Monday Sales hogs. All classes of weaner and feeder hogs met a reasonably good de- mand with prices about steady. Weaners 16 to 22.50; light feeders (under loo'lbs.) 24.25 to. 30; heavy feeders (100 to 130 Ibs.) 29 to 33.50; heavy feed- ers (over 130 Ibs.) 34.50 to 39.25. (All prices per Light feeders (under 100 Ibs.) 35 to 40 per hundredweight, heavy feeders (over 100 Ibs.) 22 to 28 per hundredweight, heavy bred sows io 98 per head. Butcher hogs sold Monday FOB Lethbridge 30.30 to 30.50 base price. Sows 23.50 dressed weight; export 215, export price 24.45 liveweight. Calgary Livestock CALGARY (CP) On offer to 11 a.m.: about 825 head, mostly good and choice slaugh- ter steers and heifers. Trade was active. Slaughter steers and heifers sold fully steady. Cows were steady with gccd kinds scarce. Bulls were unchanged. Choice steers 31 to 31.50, good 30 to 30.75. medium 29 to 30; choice heifers 29.50 to 30.20. gccd 28.50 to 29.25, medium 27 to 28.25; good cows 21.50 to 22.50, medium 20 to 21.25, can- ners and cutters 17 to 19.50; good bulls 27 to 28.50. Replacement cattle were mostly steers weighing more than 750 pounds. feeder steers over 700 pounds 30 to 32; good stock and feeder cows 20 to 23; gocd stock steer calves 34.25 to 38. There were no slaughter calves on offer. Beef Futures WINNIPEG (CP) Trading was active at the Winnipeg live beef futures market Monday ith some executed at 25 points over previous close levels. Open High Low Close MOB. May 32.50 32.20 July 30.90 30.90 30.85 30.90 30.85 Sep 29.10 23.25 23.10 2S.2.i 29.00 Nov 23.10 29.10 Potato Futures WINNIPEG (CP) Maritime potato futures market was in- active Monday with some bid- ding near previous close levels sut few offers. Close Moh. Nov 2.31 3.30 March 2.51 2.00 April 2.50 Holds Up Gas-Short Slie described the Israeli attitude towards the Arabs as "not a healthy one." "Essentially many Colo. (CP) Energy Minister J. J. Greene today held up a natural gas carrot to the gas-short U.S. in return for a better oil export American restrictions on Canadian oil imports and suggested they are stalling broader energy agfeement negotiations. He also but did not taken the view that the nationality of ihe resource owner didn't matter, as long as lie behaved in accordance with Canadian law and the Canadian look upon them as a race inferior. They say, 'Thank God we hava the Arabs as a nationalistic speech that warned the that that Canada wants oil entry into U.S. markets on a normal commercial basis. As an enticement, he told But now, his thinking was in ine with the nationalistic view that Canadians are determined enemies.1 Arabs who work for the assuring the mid-year meeting of the Independent representing an American industry with vast "build something which is clearly their own and not the network are considered collaborators by fellow Association of America that Canada is as friendly holdings in Canada, Canadian natural gas would and small image of the great and powerful civilisation she to the U.S., he sharply available to the U.S. if our south." oil was given assured TORONTO MINES, INDUSTRIALS Supplied fay Richardson Securities of of access" to export markets. Canada exports 98 per cent of "i-r- nil fft tVio IT Prices LAST BID OR SALE a.m. Quotes) a.m. Quotes) a.m. Oil TO ine no Greene pointed out elsewhere Grain Prices 3fr-page speech, at once INDUSTRIALS North, Cent 11.50 Falconbrldge 1S6.00 Abitlbl 9.75 Ogilvie 1B.OO Frofcex 35 Alcan Pemblna Pp 19.00 First Marltlmes 1.35 Atgoma Steel 13.25 Power Corp 7.00 Giant Y.K 8.00 Atco Ind 10.00 Price Co 11.50 Gortdrum -3.35 Allan Sugar Rothamns 15.50 Gunnar 7.00 Bell Te) 41.P7V3 Shell Cda 22.50 Granduc 8.25 Brazil Trac 14.50' Simpson's 15.M Headway R.L. .09 B.C. Tel 59.00 Simp Sears 22.75 Holllnger 30.M Burns 56.50 Steel of Can 22.75 Hud. Bay M-S for removal of the oil import curbs and a stirring Canada-first policy declaration. WANTS MORE CONTROL Sounding more the economic nationalist than the traditional Liberal continentalist, the (CP) After a slow start in all commodities today at the Winnipeg Grain Exchange trading gained momentum in the oil seeds anc prices in flax and rapeseec showed some strength at the B.C. Fores) 2B.50 Selkirk A B.C. Sarar 17.00 Texaco Hydra tx. .iv 21 Highland Bell cabinet ministef said of trading. CAE !nd X.60 Traders 9.55 Ircn Bay of the future is the showed some ex- Cdn Brew 7.50 Trans Mtn Chemcel! Trans Cna Col Cellulose 6.00 Union 00 'so '-'8 Po 2700 Quebec .23 I3.mi Kerr Addison business conglomerate with a national home. and commission house buying and prices moved to Cal Power 21.00 Union Oil 37.00 Anacon .ai Coron Credll 1.30 Versatile Mfa ?.00 Labrador must be allowed to levels. Flax had a light- CWN Gas 10.50 Westeel Cdn Indiist 9.62Vj Union Car Canada S S 23.25 Weslon's 1100 Lake Shore 3.60 1775 Leltch 1.95 2025 Langls Silver through greater Canadian control of industries and volume of trade and rye showed some strength in the Cdn Marconi 3.45 14 '0 Mecassa crop futures. Oats and bar- Cdn VIckers 7.25 West Cdn S Chrvsler 23.25 Zenith Elec CPR 56 2 '30 Madsen R.L. 1-10 175 Matartlc GF-. 1.00 Martin McNecly .i3Va IKS Maybrur. I 20.25 Maclntyre US.OO 15.25 Meta 19.00 Midrlni 27 is subject to a new nationalism that seeks to find a separate Canadian identity. That nationalism is a were mainly inactive. Monday's volume of trade included bushels of flax of rapeseed and Comlnco Cons Bath 17.50 Can Imperl Cons Gas 14.75 Montreal Dist Sea J8.00 Nova 21.00 intern Moaul which is not of rye. Domtar j 15.00 Tor-Dop New Athona or for class two wheat Dom Textile 10.12V4 MINES I'M Dom Stores 12.87V'a Acme "ew Imperial f.w Dome Pete 51.00 Advocate Asb. 2.10 Mr1. Greene said Canadians do not want to adopt export to' countries outside IGA: 1 Nor 2 3 Fam Play 9.62Vi Akaltcho '.48 Northqafc 1417'A Fd of Amer 44.P7V4 Area Mines 2.31 OpemisKa Gt Cdn Oil 3.50 Belcher Iron -40 American dream and intend to build a country 4 5 6 1 Durum 2 G.n .V.itors 70.00 Black ranriu from the 3 IGA prices: 1 -ulf Oil 15.75 Broulan .26 .Placer DeV. line with this, he had 2 3 4 RayrocK changed position and thai 5 6 1 2 3 Wg.n; iq n> LOW 43.50 .1-25 Vet i-esourc-jit ,-iv inv GpeA is essei1 m! to int utilities 25.75 coin Lake a'B, nf a, free aim indeDenata? 275 274% 2-n Indust Accept 13.00 Cocnenour Laurentlde 11J7V4 Slscae 276% 275% Kelly Doug A 6.25 1-96 Greene said he had Loeb 4.90 Denison 30.50 1 f Loblaw A 6.62W Deer Horn Metro Stores 17.00 D'Eldona Western Mines'. 283% 280V; 56.37'A HSr- 2803A Nov 245% 242% Molson's B last Sullivan'." 6JO Zenmac 12% AAISCELLANEOUS 240% 237% 240 Oats May 74% Jly 75 Vancouver, Calqary, (CP) 76 (Supplied by Doherty, Roadhouse and McCuaig) LAST BID OK and poultry report issued by the Alberta" Department 75 Barley a.m. a.m. Quotes) 107% WESTERN OILS Jefferson Lake. 10.37V! producers A large -33; A medium 28; 108'A 108 108% Oct 108% Alniinex -f.50 Joutel Asmera 11.00 Kaiser 19 (if) Mutual Accum. 4-52 4.97 245 Mulual Gin F d.17 18; B 19; C 12; cracks 108% Can 3-65 L Ont Mutual Income 4.53 retailers A large 44 to Natural medium 41 to A small 102% Cdn Ex Gas 3.40 Pacific 13'00 Provident Mtl 33; B 32 to 33; C 29 to 105% 105Vi 105% Cdn Honiestd' A20 Shelt Regent Fund 7.42 29 to 30. To 108% 108% 108% Cdn Ind Gas Oil 8.25 shell Inv Pld 23.75 7S Cdn Long Is .84 Shell Inv Wts 1.15 Accum- cartons) A large 46 to 47; 109% Cen Del Rio West Cdn Seed. 2.3S Charter 7.50 Whltepass Yuk 28.50 Chieftan 7.00 CALGARY Minlns 43 to 44; A small 33 to 35. To Dynamic Pete Acroll French Pela 5.65 Pele Belh- 1 chicken Broilers, THE CANADIAN PRESS Gf Plains 19.62'A Barons Oil Mill City 1.55 North Cont New Cont 1-10 'nT Bornite Ridge .20 Block Bros 4.10 'S 4, 6 to 7. Turkey 12, 12 to 18, Safeway Ltd., 4.40 per cent pfd. July 1, record Nurhac tm West -4i B.C. Sugar V. 18, 26. Live No. 2 1. Motors Corp. Ltd., 85 ,-IJ Rexdale CaPf- ln'Br 3-'J _ __ Churchill -VA; 12 to 18, over June 10, record May 14. Place Gas PIPELINE STOCKb coronation Credit 1.20 Scam Rain'" ?as t Crestbrook Power Ltd., common lnnnn.r 1 23 Alta- GaS Nal') CrOYden 'M SSSSSr Vj; Cdn. W.N. Gas 14.50 Dolly Varden .32 w! t n" 'it' 410 Inland Nat 'Gas 937'A Dynasty 8 cents; 5 per cent pfd. all July 1 record June 2. MISCELLANEOUS Norln' Cenlra 1I.42V! Er.dako NDIKTBIALS North, Centra B Fort Reliance .56 muui i Gai Melro 450' Futurity Newspapers Ltd., commoa 7% cents; 6% per cent AoMiiSfe Trans "27.00 Giant 84 cents, all June 15, record Sit uliS IS Trns. Cn Pipe 2.80 37.7J Granisle 14.75 em mm Trans Can Pioe A 53 00 Key Ind THE CANADIAN 22. rdn Ko Car 9 00 Trons Ca" piPe 7'-ss Growers; Wine B Lines of Weston Ltd., common pi Tn Pfi 517! Westcoasf Trans. 17.37Vi Hy's 2.50 t-dn KSC m rra 4 35 Brew 3 three months cents: 4% per cent 1st pfd. fvnnfn A 4 IS MUTUAL FUNDS Jericho 31: 1970, 6 per cent 2nd pfd. R A.G.F. Specia 2.20 2.35 Kamloops 11 Com Proo 800 ComP. 7-OB Lornex a share; 1969, all June 1, record May Gt Cdn Oil 'Sand 350 All Cdn. Div. 7.61 8.32 Lytlon MlnS 2.30 I Cdn Oils 1-75 All Cdn Ventr. 3.47 3.79 Mt Washington A 1350 Amer. Gth 1- 4.59 5.04 Madrona 28 S Canada Growth 5.10 5.60 New Cronin .08 Hnrnp Pitfld'" 245 Cdn. Invest. F 4.09 4.49 New Imp. Mines HnH co is'oo Collect. Mil 5.56 6.10 okanagan Hellcop. 3.25 Hud E on MM Commonwealth 11.41 12.50 Prime? .2! Hud S Oil Pfd S4'.M Com'wealth Lev 2.97 3.25 Silver Standard Prepare Huoh Euss Pfd 20.00 Corp. Investors 5.08 5.55 T.C. Ex 46 Oil 9 37'A Dreyfus F U.S. 10.00 10.96 Texmont .60 Husky 0 B Ptd 3800 Northwest F n. 3.71 4.08 Troian .72 Hus'y 01 War 3.50 Northwest Gth 4.30 4.73 Western Mines 4.45 m Pro Pire Wts B.OO Growth Equity 5.81 6.38 Westcoast Res TRAILER or NEW YORK Now for the Holiday Supplied by Richardson Securities of Amer. T. and T. 44.00 20 Golds 160.35 up Anaconda Sears Belli Sleet U 00 Standard 58.00 10 B MetS 100.87 off l.TO N.J. 52.50 15 W Oils 141.46 otf Chrysler 22.50 Texas Volume i Comsat 3'-00 Texas Co. NEW YORK Dupont lOB.WVj Woolworih 26.62V? 30 IndUEt 703.08 Off Genaral Motors Westinghouse Gulf 2-J 37'A U.S. Stce! 64.1 2Vz 10 Rails 147.88 off 2.77 34.P7V3 15 Utils 104.61 off nf Harvester 24.00 65 Stocks 231.23 Off Ker.n. Copper 46-UVi 20 Indust 164.73 off .66 Volume Canadian The Canadian Radlo-Te ev sion Commission will hold Public Hearing in the in Calgary, Alberta, t mencing on Tuesday, May 26, 1970, ot a.m., Io consider, amona other matters, the following application: UTHBRIDGE, AlBERTA 6905962 Application by CABLEVISION LETHBRIDGE LTD., Recreation of a broodcatling und.rtaklns (CATV) .erving Alia., for to tronifsr common and 8S5 full facilities to completely service or repair Limited and others to Agra Industries Limited com-mon and 741 preferred shares and Lethbridge GAS TESTING APP1IANCE Limited common and 114 preferred WHEEL BEARING SERVICE WATER From the dote of this no new information be filed by the applicant regarding this PrebCo. PrebCo also carries a complete line For the proper conduct of the hearing it is imperative that the requirements of the Board of Broadcast Governors' Procedure Regulations be strictly followed. Any parti and accessories plus a free sanitary waste disposal station. Located of Gas Company or opposition in respect ubove-tnentioned 4th Ave. should be filed with the Secre ary on or before May Mf in twenty (20) copies. Copies of the Regulations may be obtained from Queen's Printer, Ottawa, Persons wishing to submitted with 1 to the above matter may do during regular office at the offices of the Commiss on Ontario. Further copies of this 100 Metcalfe Street, Ottawa, ci may be obtained by ing to the undersigned. F. K. 4th Kimvt N.