Lethbridge Herald, The (Newspaper) - May 12, 1972, Lethbridge, Alberta
fiirlny. May 19, 1979 THE inHBBIOGf IIIPMD 17 Bank slocks pace market advance TORONTO (CP) Banking Issues led the advances as prices in mosl sectors of the Toronto stock market moved 'n niirl-morn- ing trading today. The industrial index was up .35 to 199.27 and western oils .20 to 212.43, Golds were down .GG to 183.51 and base metals .12 lo 95.3C. Volume by 11 a.m. was shares, up from at the same Lime Thursday. Strong gains were recorded by chemical, general manufac- turing, industrial mining, utility and real estate issues drilled fractionally lower Among banking issues, Bank of Nova Scotia was up'-i lo Bank of Montreal J.H lo Toronto Dominion 38 to and Royal to Advances outnumbered de- clines 112 to G5 with 190 issues unchanged. Peoples Deparlmenl Stores climbed P.i to Slater. Walker Canada 1 lo S21, Impe- rial Oil to ssa-ln, Tarn Js to 51G-1J and Numac to National Trust dropped rz to Kaps Transport to SherriLL ]R lo Pa- Vz to and Aquitaine Ito 'LIGHT TRADE MONTREAL (CP) Banks ]ed moderate advances i morning trading on the Mont- real slock market today. Combined volume on the Montreal and Canadian slock exchanges al 11 a.m. was compared with aV the same lime Thursday. Banks rose 1.29 to 2G9.27. in- dustrials .07 to (fie com- posite .7-3 to 202.GO and papers .05 lo 85.51. Utilities slipped .36 to 162.02. Peoples Department Stores gained lo S2734, Trans Mountain Oil lo 523. Cana- dian Invernnlional Power a.i to Imperial Oil lo Canada Cemenl to and Argus lo Declining issues included Walkpr-r.nndfirham. down to Down each were Fin- ancial Collection at Do- minion Textile al Canadian Salt at 515Vi and Wesburne In- ternational at silTi. On the Canadian Slock Ex- change, Williams Creek Gold dropped 20 cents to 85 cents on sliares. ACTIVE TIIADE NEW YORK (AP) With help from the blue-chip and glamor issues, prices advanced in today's stock market. Trad- ing activity was a little ahead of Wednesday's slow turnover. Gaining issues took about o 3-lo-l advantage over declining slocks on Ihe New York Stock Exchange. The noon Dow Jones average of 30 industrials was ahead 6.40 Lo 9-11.2.3. Walker Gooderhain added '2 to .S43 among Canadian issues. Alcan was up nn at and Massey Ferguson was ahead al Dome Mines lost lo SG9. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Dolierly, McCuaig Limited) LAST BID OR SALE a.m. Quotes) fl.m. Quolti) a.m. Quoin) WESTERN OILS Alia Easl Asa morn Aililand BP Oil GflS Can Soulh Cdn FI There Is a slrong possibilily thai Cal- gary Power Lid. will apply for a rale increase within the nest year or Iwo. Telephones Minis- ter Lcn Werry said in Ihe leg- islature. He s a i d Calgary Power, the largest distributor ol electrical power in Ajbcrta, has indicated thai, financing requiremenls for new facilities and increased op- erating costs and interest charges would force a rale in- crease unless revenues in- creased. Mr. Werry noted that Cal- gary Power, which has operat- ed in the province for some GO years, has neycr before asked for a rote increase and in fact I had decreased rates three times. B.m. GUI MINES BralornB Broulan Belhlehem BrunswicV Cassiar Central Pal. Chimo Cons Rambler i Lake Cteisfco Pine Pclnl Placer Dev P C. Exp. Rio 1 53 Roman Corp (11-DO R.m, Ouolesl Jolasco 77 .10 67.00 4.10 The tax column Budget measures accomplish much By F. H. ASPEH will fiphL for ll.s share of Irade, watchers a li-nLalive plimpse rapadlalod tied lo HIP. nf re- I of [he kind of J-'inancc Minister living. There may he less poli- newed inflation, keep a neutral Mr. Turner seeks In become. lical rhetoric in future over Finance Minister John Turn cr's first budget contains as j posture on foreign investment, much psychological therapy as assure Ihc business communi- economic or fiscal medicine. I iy UKIL contribution lo In thai choice he is quile cor reel The cornerstone ol hi- Lliesis is, as he puts il, Ilia ''confidence is Just as previous finance min- isters in recent years have had (o react to an inflation logy which has rationally or otherwise become rampant, nomic iirowth is recognized, begin the process of smoothing [avoVile device of many ii- l out some of the jagged edges ministers when faced Notice that Hit-re is no attempt these areas of social Lo eslahlish artificial, lempor-1 lance, because o! Ihe automa- ary, hastily conceived, make- work government projects a I of the lax reform bill, ant! con- currently, make a tangible commitment to fair play for with unemployment. Mr. Turn- er has faced squarely the real- ity that the best and most youth, senior citizens, veterans lasting jobs are Ihose genuine- and [he physically disabled. In terms of political philoso- Mr. Turner was required lo I phv, it comes Ihe closest lo I tivily. bring to an abrupt halt the j being classically liberal Llian; jn this sonse lie has most Kcdcral Liberal budgets j gambled. He would be well ad" fiscal" m many years. It reaffirms j vised lo order monthly reports Canada's failh in free enler- j from department of con- prise but concurrently makes j sumoi- lo inakG certain mood of gloom that has per- vaded the economy for nearly three years. Having about Si billion lo spend as lie liked he had Iwo options shotgun the money, sprinkling ft around in wlial could he classified as typical election year hudgelry, or use it lo really zero in on one or Ivro problems in an attempt lo solve them. He opted for the lalter course. In his action he has been responsible in a fiscal senst and wise in the ways of psy- chological warfare. In one fell swoop the budget measures accomplish a num- ber of things: stimulate the job creating capacity of the private sector, warn our American trading partner thai Canada a major gesture toward the dis advantaged. One can readily argue that more should have been done on either or both of the social and economic fronts Indeed, Mr. Turner would be the first to admit that he would like lo have achieved much more. Bui given the financial straight jacket he inherited, he may well have begun Ihe long and torturous journey back through the financial maze that has built up since the middle 1950s when Canada seems to have lost truck nf a coherent and responsible economic strategy. The Budget Speech gives lax Cable Ford of Gl Cdn O Cache Dickenson Donison Mint Deer Horn D'Efdcnfl Dome Mines Aldona Discovery A, Fast East Sullivan FalconbriOqe SherriM Gordon 1.43 Sleep Rock 2.01 .19 Tek Corp. 5 10 7 in Texmonl 1.E5 Upper Canada ?.00 Western Mines 3.75 2S't'i Wrrahf Hargreaves Md P 55 Willfcy 1 16 Windfall ..'j? 32.75 Yellowknife Beer OS C7 Zenmac .15 -IB 4B.7S Abllibl B-B7'; Alcan 32 50 .98 AlqorPB SlMl 1J.DO 1 25 Alco II 03 Atlan Sugar ird Gianf Y.K. Bovis Granduc Headway R.L. Hollinger Hudson Bay Hydra Ex. Iron Ray 7.00 USD 73 SO i Boll Tel. B.C Tef Durrs B.C. Forest B.C Sugar Bow Vat Ind CAE Ind Cdn Brew Chemnell -U.75 C150 i Hur Erir Hiram Walker Imp Oil M NickH Int Pipe Ind Accept LaurcnMrJe Kel Doug A. Loeh Loblcw A Wei 51 ore? Mas McMillan Bio- AAncre Corp fAolscns A Norlri a, Cenl 17.25 77.25 If, T; 7 90 3.75 7.6IV; 1B75 Grain price review Winnipeg Grain WINNIPEG TCP! Rape seed prices posted fractional gains on limited exporter buy- ing at mid-session on the Win- nipeg Grain Exchange today. Local and commission bouses, were small traders in thai com-1 modily. Flax prices worked slightly lower on mainly local and com- Mid-session prices: Flax: May -n i lower 2.GB JaA; July 1 lower 2.70A; Oct. 1 lk] lower 2.72A, Nov. 7s lower 2.71 Rapeseed Vancouver: June 1! !i higher 2.56 VA: Sep. '2 high- er 2.54 :i.i; Nov. higher 2.5] Jan '2 higher 2.48 3jB. j Rapeseed Thunder Bay: May j -Vi higher 2.411 i2B; July 'i'z higri- "--A. Oct. 1 higher 2.41: tic tJKralator clause. There are defects In Mia plan, some major, others loss significant. VVe face yet an- other deficit, this time million. No step? were taken, nor assurances given, to guar- antee an arrest in government Iy created in the private sec- (spending habits. Nor did the. lor through increased produc- budget the regional nature of Canada's economy by applying selective regional measures. HAND AID SOU'TIO.V In this area, while Ihe fi- nance minister ga'-e a welcome that the abolition of the federal reassurance of his commitment 12 per cenl sales tax on the; lo revenue equalization he- components of hearing aid5 Uveen weallliy and slow growth and such Is actually being j regions of Canada, this is still passed on lo [he consumer in j a band aid solution Lo the much continuing reduced prices. i deeper problem of regional in- He would also do well to keep I come disparity. The real ans- a sharp eye on corporate divi- wer jn selective regional dcnds for Ihe next year. economic and lux policies. If the manufacturing and The other technical ameml- proccssing companies simply meiiLs lo Ihe Income Tax Act use Ihe corporate tax cuts lo; require detailed analysis he- boost their slock prices by pay- j fore in-depth comment can be ing higher dividends, rather j made. Mr. Turner makes some than use Ihe tax savings lo improvements lo the new capi- seek new markets and expand I tal gains Ux system but. mora production facilities. important, promises major re- Should thai he the case, It visions in the future lo the will be a long time before an- I whole system. In thai area, his other finance minister relics on performance is yet lo be mea- business assurances that Ihe; sured. lax cuLs produce expansion But for starters, the new fi- and new jobs. However, the nance minister has earned the gamble seems worth taking. Mr. Turner also appears h respect of the public by going a long way lo restore confi- be a man of strong social con-1 dence. and he's right it in science. II is a welcome pre-, contagious. cedenl (o finally see pensions; 'Mr. Asper Is fi Winnipeg for Ihe aged, veterans and in-; lawyer.) w mission house trading with 2'4f) w some exporter buying while rye unchanged 2.4.B. dropped fractionally on a lack Price CD. Rolhmans 70.B7Va SI Law 7? OT Shell CDA J9.75 Simpson's P.U'.J Simo Seors siccl Ol Cnd "0 Selkirk A 2.CO Texaco Korr Addison Key Anflcon Labrador Lanqia Silver Madscn R.L. Malarlic G.F Martin fAcMee V.6D Coron Credit If, C.W.IJ. G. Pfd 40.CO Cdn Ind P6 Cdn Marronl Cdn Vickers Mela .'I Midrim ,'S Inlern Moou' 9 7S Nu West 9.50 New Alhona .is Calumpl ]l W. Horse Ccpper f.-'-O Noranda 3E-H) Norlhgale 590 Tran5 Mln Pp Trans Cnd PD V.'eslrm's B Woodward's A i Cdn Seed Zcnilh Eke. 7 BANKS Can Imp 76.J5 36.iD 33.00 31.371'j 41 50 16.75 13.00 u.nn Oals 'i 36.61': 32.5D German firms eye Alberta EDMONTON (CP) Several German manulacluring plants have shown strong interest in eslablishing plants in Alherta, says Werner Wenzel. director o[ the province's newly-formed international marketing branch. Mr. Wenzel. who recently returned from a three-week lour of Germany and England, says two giant chemical-maim- lacturinp companies in Gev- New York stocks (Supplied By Richardson Sccnritlcs of Canarfl) nnri T ?.esr hral' of (he market was. dull and featureless. Thursday's volume of IradB was bushels al flax, o[ rapcsced and 415. I 000 of rye. Housing subsidy forecast May unchanged MA: I "a higher G9 >.1B; Oct. un-i ged TUB. rley: May unchanged 1.09 JjA; July unchanged l.C95i; Oct i i unchanged 1.11 Rye: May lower 1.02 'jA: '-Tilly lower 1.03: Oct. lower! l.oi 3sA. j Grain quotes Thursday lligli Low Close May l.lly Oct Nov Ka 'Jun 'Sep Nov 2G9'2 271 268 27ni.i 263'! 271 27.1 272' a 25-17. 254 U 240'i Sears 11175 Md Oil r.l HJ 71.50 Texas Gull 117.75 i Texas Co 30.37' Wickes Cwp al 50 WoolwoHh -i Weslinahouse El U.S. Sleel 3325 TOROtJTO AVERAGES 3FUO ?ry ward ;0 TO Golds UB.79 off .W ID Base Mel off to li W Oils 213.19 off OJ Volume NEW YORK AVERAGES JO tndust PdT.13 up 6.if! 20 Rails 2H.51 up 131 15 Utilities 109.09 up 13 AS Slocks up 2 IB Volume Livestock report imany will send representatives on Calgary I to Alberta soon. Calaarv livestock CALGARY (CP) Receipt LONDON. Onl. (CP) Kami- lies earning between 55.000 and i a year be given gov- 1 eminent subsidies on long-term Qct mortgages to enable them to i Nov own their own homes. C. Donald Wilson of Calgary, president of the Housing and Urban Develop- ment Association of Canada. predicted Thursday. Legislation for such a home- owner's assistance program may be passed this year, h e told members of the London Home Builders Association. Ilapesrrd Thundrr Bay May Jly Ocl Uatlov MF.V Jly On Hvr A LARGE FINANCIAL INSTITUTION IS SEEKING AN EXPERIENCED CREDIT OFFICER finance or related background essential. TliR ?ucce5sful candidate should be presently em- ployed ol or nbovp the manager Ipvel. PleasB forward reiuma BOX 39, HERALD ANNOUNCES In Co-Operafion Wifh THE MARQUIS HOTft THE HOIIDAY INN THJ 51 RANCHO MOTOR HOTEL THE PARK PUUA MOTOR HOICL Scheduled Airport UMOSINE SERVICE For all Flight Departures and Arrivals Operated hy BRIDGE CABS TIME AIR 3282331 BRIDGE CABS 3288805 I head, practically all replace- HOB pi ment cattle and calves. Trade was strong and There were insufficient! Elaborating during an inter- May slauehter cattle on offer lo es i view Mr. Wilson said subsidies Jly lablish quotations I paid for public bousing and Oct 1 o w -c o s I housing should be shifted lo standard housing. This type of assistance would ]IM''c INTEREST twice a year, SAFETY all the year when you open a Lombard North Central Deposit Account A Bank Deposit Account with Lombard North Central provides a good rale al interest, with complete safety lor your capital leading to financial peace ol mind. Deposits at 6 months' notice of withdrawal earn 6% interest per annum. The rate for deposits exceeding is subject to negotiation. Interest is paid half-yearly without deduction of U.K. tax and up to El 00 can be withdrawn on demand during each calendar year. TIME DEPOSIT ACCOUNTS-Fixed period deposits of end over can earn higher rates of Interest. Details are available on request. Opening an Account is simplicity itsell, so write now lo the Deposit Account Manager tor further details and a copy of Deposit Account Booklet No. AO 516. Replacements were m o s t Iy yearling steers and heifers in the lighter weight range, and EDMONTON (Cl'1 Aver- stock calves weighing 450 lo 550 pounds. All classes of replace- menLs met a keen demand a1 Good feeder steers under 750 Tins type 01 assistance niiuiu produce betlcr quality housing. Llon Kllls D0y i i pounds 38.50 to 42, 750 pounds age prices to 11 a.m. provided by the Alberta Hog Porducers Marketing Board: Edmonton: 30.20. p r a p up tfl 3f, fewler hdt. Thursday 29.an. crs 51- up 39.50 lo 36.10. Deer: .1025, Good .stock sleer calves W to Thursday I 5ji good stock heifer calves Calgary: 30.25, n ver a ge to 40.20. Tliursday 29.73. Hogs average base price LellibridBL-: No sales, average su 55 Thursday 29.86. Lloydminster: No sales, aver- agc Thursday 29.31. Grande Prainc: No salts. ;n- crage Thursday Fort Maclcod: No sales. V L A A I siappcn a wo-vear-om DOV on 'ho head. The' boy, who" bad; Beef f u lures age Thxn-sday 29.35. Total hogs sold Thursday j average 29.87. Sous av- prage WINNIPEG (CP) Live beef futures close Thursday. May 37.00B; Jly 36.00A: Scp 34.20B. Wednesday's volume: 13 ron- tracls. and proride an incentive for a F (AP) house-owner to improve his j. bars of bis cage Thursday and Although conceding that some lwo.avcar.0ld bov on form of public housing is needed i in Canada, Mr. Wilson said, il still carries a stigma and segre gales occupants from Uiosc in slandard housing. Under the proposed subsidy program, families earning less than 57.000 more if Ihe government could live in better quality hous- ing without anyonp knowing they are remving financial as- sistance. As soon as t.he family's in- come increases to Ibc level where bouse payments can he afforded Ihc subsidies would slop -Mr. Wilson explained. slipped through an opening in a fence surrounding Ihe cage al a lirivalch -owned 7.00. suffered a fatal skull fracture. The boy. Patrice Bczicrs. was the son of a woman working at the zoo. Lombard North Central Tr-l Dl-ifll 1 Of-'iM 31 Lornberr) P( Ldndnn lafd Tpi 01 41 I hord Nonh Canirpl n "'frnhpr of the Nsiionnl Wesimn Bank Group Capiinl Reserves exceed TASK FORCE MANPOWER TRAINING AND RETRAINING Any individual or group who wishes to appear before Iho Alberta Government Task Force on Manpower Training and Retraining are requested to submil their intention to do so to the undersigned by Friday, May 26, 1972. EACH REQUEST FOR A HEARING BEFORE THE TASK FORCE MUST BE ACCOMPANIED BY A WRITTEN SUBMISSION. Cal Lee, Chairman Task Force Manpower Training Retraining 403 J. J. Bowlen Bldg. 620 7 Avc. S.W. Calgary, Alia. Public Service Fonttion publique Canada Canada DEPARTMENT OF NATIONAL HEALTH AND WELFARE CHARLES CAMSELL HOSPITAL (40? beds, active treafmenl) EDMONTON, ALBERTA DUIlCS: Rrnorlmg (n Hi- ETC n-iiini'rntion) llm Food MonogT hp rr for I IT compldo Diclnry Jcrvjce, includina jupr. rf 60 operolinri end capital budgeting, nmg. prcpnroliPn and soring of rugulni and llmrop, diols for sfof) and palicnis. -QUALIFICATIONS: A" Bath. loi'-. Wlll) rn AdiiimiMrnlion plus ro-.pnn-.iblc crpen in n food produtlion func'ion or ir-nndr-v schcinl and mnnv YOQrs of dirPtlly rrlalrd pln of Socml S'" FOOD SERVICES MANAGER Salary S lo SOCIAL SERVICES WORKER Salary to roiwnrd "Application for Employmrnr1 (Form PS C 367.101) ovnilnblr nl Post Officov Cnnndo nntl ol Ilin Publ> ol Cnnnclci to. Pulilit Sorvii! Commii.ion, .100 Conlodrrnlion Buildinn, 10355 Joiprr Avrnuo, Edmonlon Albcrln. I5J IY6 Ouolo Compplilion No. 72-E-526 DUTIES-. Rcpotlinp A B S W. docin... o o ct n rrcocinijcr ful (oniplolian of o ly fclnlrri Quoin Coniprlilion No. QUALiriCATlONS. -M o iwo yonr ro irctinolpqy. nnd Hirci.1- 72-E-525.