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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 12, 1972, Lethbridge, Alberta Ftidoy, Moy 15, 1977 THE IflHBRIDOE HtPAlP 17 Bank stocks pace market advance TORONTO (CP) Banking Issues led the advances as prices in most sectors of the Toronto stock market moved higher 'n niid-morn- ing trading today. The industrial index was up .35 to 199.27 and western oils .20 to 212.43. Golds were down .66 to 188.51 and base metals .12 to 93.30. Volume by 11 a.m. was 514.000 shares, up from at the same time Thursday. Strong gains were recorded by chemical, general manufac- turing, industrial mining, utility and real estate issues drifted fractionally lower. Among banking issues, Bank of Nova Scotia was up1., to Bank of Montreal to Toronto Dominion to and Royal li to Advances outnumbered de- clines 112 to 85 with 130 issues unchanged. Peoples Department Stores climbed Pi to Slater. Walker Canada 1 to S21, Impe- rial Oil to Tara to and Numac Vt to National Trust dropped '2 to Kaps Transport li to Sherritt IB to Pa- Vi to li and Aquitaine :to 'LIGHT TRADE MONTREAL (CP) Banks led moderate advances i morning trading on the Mont- real stock market today. Combined volume on the Montreal and Canadian stock exchanges at 11 a.m. compared with at the same time Thursday. Banks rose 1.29 to 269.27, in- dustrials .97 to 203.63, the com- posite .74 to 202.GO and papers .05 to 86.51. Utilities slipped .36 to 162.02. Peoples Department Stores gained 3'i to Trans Mountain Oil Hi to Cana- dian Invernalional Power 3.i to ROBERT D. KOLESAR The Board of Directors of St. Patrick's Credit Union ltd. Ore pleased to announce Ihe appointment of Robert D. Kolesar 10 trio position of manager, Mr. Kolesar Is a life time resident of Southern Alberta, married, with two children. He has an extensive back- ground in the area of con- sumer financing, and in the management field. Bob ex- tends His invitation to every- one to contact him in regards to their financing and invest- ment needs. Imperial Oil to Canada Cement li to and Argus to Declining issues included Wallrpr-Onnderham. down '.li to Down Vi each were Fin- ancial Collection at Do- minion Textile at Canadian Salt at Sl.Wi and Wesburne In- ternational at On the Canadian Stock Ex- change, Williams Creek Gold dropped 20 cents to 85 cents on shaves. ACTIVE TRADE 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 a 3-to-l advantage over declining stocks on the New York Stock Exchange. The noon Dow Jones average of 30 industrials was ahead 6.40 to 941.23. Walker Gooderham added 'z to among Canadian issues. Alcan was up at and Massey Ferguson was ahead ?R at Dome Mines lost to firm I may seek rate hike EDMONTON (CP) There Is a strong possibility that Cal- gary Power Ltd. will apply for a rate increase within the next year or two. Telephones Minis- ter Lcn said in the leg- islature. He s a i d Calgary Power, the largest distributor of electrical power in Alberta, has indicated thai, financing requirements for new facilities and increased op- erating costs and interest charges would force a rate in- crease unless revenues in- creased. Mr. Werry noted that Cal- gary Power, which has operat- ed in the province for some 60 years, has never before asked for a rote increase and in fact had decreased rates three times. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied Iiy Dolicrty, McCuaig Limited) LAST RID OR SALE a.m. Quotes) a.m. Quotes) ft.m. Quoin) WESTERN OILS Alta East Asamora 19.( Ashland II.: BP Oil 5 Can Soulh 7.: Cdn Ex G, Husky Oil Invest Mutual Husky Oil 8 -iZ.OO Mutual Ac Husky Oil War 4.90 Mutual Gr F Inter Prov Pipe M.50 Nat Rei Inler Prov Meel ll.'J7V) IJ W Fin Cdn Ind Gas Oil Cdn Super Charier Chiettan Dome Pets Gt Plains Gt Cdn Oil LochlEl Cdn Oil Mumac Pan Cdn Pan Ocean Pinnacle Place Gas Ranger Scurry Rnln 7.5Q v.o 10 Kaiser Res Pacific Pbla Rainier Sandwell TelecJynfi West Cdn Sped While Yukon West field CALGARY Acroll Madison No 175 N W Gr 31.50 Principal fl.37Vj Royfund Gr 1.4? Uniled Ac Universal Sav j Vangudrci Vent Oil if Spooni Selbens Total Ulster W. Docilta West Pete MISCELLANEOUS INDUSTRIES Aquataine Brinco Cdn Brew A Ccin Pacific Ir Cygnus A Cytjnus B Falcon Copper Genslar Home A Home B Hud Bay Co Hud Bay Oil Hud Bay Pfd Hugh Russell PIPE LINE STOCKS 1 Alta Gas A 53.50 Alia Nat Gas 20.00 40. CO Inland Nat Gas .P7 N and C S Pfd Pacific Trans liUiVa Gaz Metro Gaz Metro A Trans Cda Pipe Trans Cda B Trans Cda A Trans Cda War VANCOUVER .t7 MINES .OM-i Afton .15 Atlas Fxplor Bath Norse J7 A J.J6 57; 5.65 6.2! 710 77t 5.12 5.6? fi.Ofi 4.92 5.40 A7 6.7-1 7.17 7.fU 536 5.78 7.97 B.76 10.33 11.3; 7 S4 B.59 ,ES 4 70 ?5 V.30 WC Trans Wt? Brenda ____ Brycon -SO 30.00 Churchill Copper M Croyden 77.50 Dankoe -65 1275 Doiiy Vnrden :o 5.50 Dynasty 7J.OO Equitorial .55 -12.E7V3 Pert Reliance -371'; Giant Mascot 503 Granisle E.GO Lornex 9-00 37.75 Pyramid -37 9.35 Silver Standard 1 37 MUTUAL FUNDS Trojan -27 All Cdn Com 8.43 9.31 Valley copper B.so 21.7S All Cdn Dlvld 9-42 10.30 WC Res .OS Mi1'; All Cdn Vent 4.03 A 41 INDUSTRIALS '.1 SO Amr Gr F 6-74 7.40 Block Bros 145 Special 3.34 B.C. Sugar 21.00 Cdn Invest F 5.03 5.49 Capt Inter 5.50 6 CO Col Mutual 678 7.44 Hys 3.90 1T75 Cmnw Inter 1.154 15.90 Interior Brev.' 3.35 15 GO Cmnw Lev 3.88 -1.26 Key Indust .-0 "l Corp Invest 6.06 6-62 Pacific W Air 19.75 Corp In St F 5.34 5.73 Stampede Intl Res 1.09 17.35 Dreyfus F U.S. 13.2B 1J.55 OILS -1075 Gr In Shares 3.99 J.39 Albany Oil Gr Equity 7.46 8-19 Plains Pete 30 00 Invest Gr F 12.J6 13-29 Wost Explor -12 Toronto mines, industrials (SrrppHed By Richardson SecnHtics of Canada) LAST BID OR SALE fi.m. Quotes MINES 1.70 Nor lex Osisko Pine Pcln! (11'.00 a.m. Quotes) 77.50 67.00' The tax column Budget measures accomplish much Bv I. 11. ASPEH will HpliL (or Us share of trade, watchers a tentative plimpse capadtatwj tied lo thft nf maintain restraints against re-1 of the kind of Finance Minister living. There may he less poli- Finance Minister John Turn-: newetl inflation, keep a neutral Mr. Turner .seeks lo become, i lical rhetoric in future over first budget contains as j posture on foreign investment, much psychological therapy as j assure the business com muni- economic or fiscal medicine, j tv that its contribution lo eco- In that choice he is Quite cor- j nomic tirowth is recognized, reel. The cornerstone of his j begin the process of .smoothing thesis is, as he puts it, that out some of the jagged edges "confidence is contagious." Just as previous finance min- isters in recent years have had of the lax reform bill, anc! con- tangible currently, make commitment to fair play for Notice that there is no attempt these areas of social aesis- to establish artificial, tempor-1 lance, because of the automa- ary, hastily conceived, make-' tie escalator clause, work government projects a i There are defects In the favorite device of many fi- plan, some major, others less niMice ministers when facet! significant. We face yet unemployment. Mr. Turn-; other deficit, this time er has faced squarely the real- ity that the best and most million. No step? were taken, nor assurances (liven, to guar- lo react lo an inflation psyche- j youth, senior citizens, veterans fasting jobs are those genuine-; antec an arrest in government logy which has rationally or and the physically disabled. ly created in the private sec-j spending habits. Nor did the otherwise become rampant, in terms of political philoso- tor through increased produc- Mr. Turner was required lo I phv, it comes the closest to j tivily, bring to an abrupt halt the being classically liberal than j in this sense he budget recognize Hie regional nature of Canada's economy applying selective regional mood of gloom that has per- j most Federal Liberal budgets j gambled. He would be well ad- fiscal measures. vaded the economy for nearly in many years. It reaffirms j vised to order monthly reports three years. j Canada's faith in free enter- [rom the department con- Having about SI billion to spend as lie liked he had two options shotgun the money, sprinkling it around in what could he classified as typical election year budgetry, or use it to really zero in on one or two problems in an attempt lo solve them. He opted for the latter course. In his action he has been responsible in a fiscal sense 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 that Canada BAND AH) SOLUTION1 In this area, v.'hiie the Ti- prise but concurrently makes j siimer atfairs to make certain nance minister gave a welcome a major gesture toward the disadvantaged. 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. But given the financial straight jacket he inherited, he may that the abolition of the federal reassurance of his commitment 12 per cent sales tax on the to revenue equalization be- components of hearing aids Vvveen wealthy and slow growl n and such is actually being i regions of Canada, this is stiil passed on to the consumer in j a band aid solution to the much continuing reduced prices. i deeper problem of regional in- He would aSso do well to keep i come disparity. The real ans- a sharp eye on corporate divi- wer lies in selective regional economic and tax policies. The other technical ameml- dends for the next year. well have begun the long and torturous journey back through the financial maze that has built up since the middle 1950s when Canada seems to have lost truck of a coherent and responsible economic strategy. The Budget Speech gives lax Plac DeV. Cassiar Central Pal. Chlmo P.C. E; .35 Rayrock 30.25 Radiore RID Algom 1.53 Roman Corp. 16.63VJ Sherritt Gordon 1.6Q Steep RotK .99 Tek Corp. 7 10 Texmoni Dickenson Min Denison Deer Horn D'Etdcns Dome Mines Aldo .12V} Western Mines Wriaht Hargreavi 6 55 Wiltroy US Windfall 2.75 Yellowknife Beer Dofaf-co ?3 cable Ford of 39.25 Gt Cdn Oil 3.55 Gen Motors 1.18 Gt Lakes PD 30 Gulf Oil Cda Grehound 7.90 Hawker Sid Hur Erie 2.01 Hiram Walker 5 10 imp Oil Imasta 2.00 mt Nickel 3.75 int Pipe In Grp A int'Utll Ind Accept If the manufacturing and i processing companies simply menu; to the Income Tax Art 74.00 17.25 27.25 1B.75 2 90 30.12''j -42.25 32.50 2? 30.87Vs 9.50 19.12V. INDUSTRIALS Abltib! .15 Kel Doug A Dis ery Mir.' Fast Malm-tic East Sullivan Falccnbridge Frobex First Maritimi Giant Y.K. BovJs Granduc Headway R.L. Hollinger Hudson Bay M-S Hydra Ex. Iron Bay Joliet Quebec Kerr Addison Key Anacon Labrador Sugar S.JO 1.90 Afco Allan Agra i Bell Tel. Brazil Trnc B.C. Tel Burns B.C. Forest B.C Sugar Bow Va'l Inrf CAE Ind Ctin Brew 22.50 1J.TO 1) 03 6.37" 13621 9.60 .3-1 40.00 Madsen R.L. Malariic G.F Martin McNi Maclntyre Mela AAidrim Intern Mogul Nu West Homes Athi Cdn Vickers 'IV Ca let W. Horse Copper Noranda Northgatc C.P.R. Cominco Cons Bath Cons Gas Cdn W N3t C Dom Bridga Domlar Loeh a LoblBW A Met Store? Mas Ferguson McMillan Bio? 1 Moore Corp 2 Molscns A Norm Cent Power Corp 63.50 Price CD. 70.B7Vj St. Law Corp 77.00 shell CDA 29.75 Simpson's steel ol Cnd 70 Selkirk A 5.CO Texaco 1A.7S Traders Grp A 1.30 Trans Mtn Pp Trans Cnd Po lfi.37'3 Union Gas 3.05 Union Oil T.75 Vcrsafilo Mfg 33.15 wesfK- "U SO Union Cr Vk'eston's B '.25 Woodward's A West Cdn Seed ?f.OO Zenith ?7.37'-i BANKS J6.75 Can Imp 3.75 7.62V; IB 75 14.62'i Grain price review Winnipeq Grain WTvviPirr WINNIPEG (CP1 Rape ing at mid-session on the Win- nipeg Grain Exchange today. Local and commission houses were small traders in that com- modity. Flax prices worked slightly lower on mainly local and com- mission house trading with some exporter buying while rye dropped fractionally on a lack of interest. The rest of the market was dull and featureless. Thursday's volume of trade, was bushels of Hax, .unchanged 1.11 i of. rapeseed and 415.: I 000 of rye. use the corporate tax cuts to I require detailed analysis be- boost their stock prices by pay- fore in-depth comment can be ing higher dividends, rather made. Mr. Turner makes some than use the tax savings to improvements to the new capi- seek new markets and expand i lal gains tax system but. more production facilities. i important, promises major re- Should that be the case, It: visions in the future to the will be a long time before an-1 whole system. In that area, his other finance minister relics on performance is yet to be mea- business assurances that the sured. tax cuts produce expansion i But for starters, the new fi- and new jobs. However, the nance minister has earned the gamble seems worth taking. respect of the public by going Mr. Turner also appears fo a long way to restore confi- be a man of strong social con-1 dence. and he's right it is lower 2.72A; Nov. 7S lower 2.7] science. It is a welcome pre-; contagious. UA. cedent to finally see pensions; 'Mr. Asper Js a Winnipeg Rapeseed Vancouver: June 1 for the aged, veterans and in-; lawyer, i U higher 2.56 UA: Sep. '2 high' Mid-session prices: lax: lower er 2.54 Nov. higher 2.51 Jan. J2 higher 2.48 34B. j Rapeseed Thunder Bay; May j higher 2.40 July H high- I er 2.43 '.-A: Oct. 1 higher 2.43-: i Nov. unchanged 2.45B. Oats: May unchanged G9A; j July higher G9 Oct. un-i Barley: May unchanged 1.09; July unchanged Oct 1 Rye: May "a lower 1.02 '2A: j July !i lower 1.03: Oct. 's lower 1.01 JsA. i No .Scolia German firms eye Alberta j EDMONTON (CP) Several German manufacturing plants have shown strong interest in establishing plants in Alberta, says Werner Wenzel, director of the province's newly-formed international marketing branch. Mr. Wenzel, who recently returned from a three-week tour of Germany and England, says two giant chemical-manu- facturing companies in Ger- j many will send representatives I to A'lberta soon. Ansconda Beth Chrysler New York stocks (Supplied By Richardson Securities of Canada) md T Housing subsidy forecast Grain quotes Thursday (basts LakeheadI: j Low 268 2701., High Flax May 2694 I Jly 271 Oct 272 Nov Kapcseed X'ancouv 254'.z 255 254 Close 269' i 271 272 'a 19.75 Std Oil Texas Gun 33.62'.! Texas Co ..525 Wickes Corp 111 75 HJ 71.50 117.25 30.37V 30 Golds 1SS.29 off .Bfl ID Base Met 9-1.88 off (.0 IS W Oils off .04 Volume NEW YORK AVERAGES 162 50 Woolworth 3R.5n Westinohouse Elcc 5D.62'-i 30 Itidust 941.23 up 6.JO U.S. sreel 3225 20 Rails 256.51 up 2.31 IS Utilities. 109.09 up TORONTO AVERAGES Monfcjomery ward 20 Indusl up R6 Volume Slocks 320.77 up 218 LONDON, Onl. (CP) Fami- j lies earning between and i a year will be given gov-1 ernment subsidies on long-term j get mortgages to enable them to own their own homes. C. Donald Jun Sep Kov Jan Ilnpeseed Thunder Bay 254r> 254 U 251 248 'i 24fi3i Wilson of Calgary, president ol the Housing and Urban Develop- ment Association of Canada, Nov Oats May fifl Jlv Livestock report 7m'm_____i predicted" Thursday. 1 Legislation for such a home- owner's assistance program may be passed this year, h c ment cattle and calves. i members of the London t-dlqarv livestock j Homc Builders Association. >re upro 'insufficient! Elaborating during an mter- 1 view Mr. Wilson said subsidies A LARGE FINANCIAL INSTITUTION IS SEEKING AN EXPERIENCED CREDIT OFFICER finance or veloled essenliol. The successful candidate should be presently em- ployed at or obove the assistant manager level. PleasB forward reiumo to BOX 39, HERALD ANNOUNCES In Co-Operation With THE MAROUIS HOTEL THE HOLIDAY INN THS El RANCHO MOTOR HOTEL THE PARK PLAZA MOTOR HOTEL Scheduled Airport LIMOSINE SERVICE For all Flight Departures and Arrivals Operated by BRIDGE CABS TIME AIR 3282331 BRIDGE CABS 3288805 CALGARY (CP) Receipts j on the Calgary livestock mar- i :ket to 11 a.m. totalled 1.000 j I head, practically all replace- Hog prices i EDMONTON (CP) Aver- age prices to 11 a.m. provided I by the Alberta Hog Porducers I Marketing Board: ,.h1 1 on offer to es- were m o s t ly i yearling steers and heifers in the lighter weight range, and stack calves weighing 450 to 550 pounds. All classes of replace- ments met a keen demand at I Edmonton: 30.20. f I Thursday 23.98. Deer: M.25, Thursday 29.70. 30.25, average Thursday 29.73. Lethbridgc: No sales, average Thursday 29.86. Lloydminster: No sales, ovcr- i age' Thursday 29.31. [Grande Prairie: No salts, av- erage Thursday 28.117. Fort Macleod: No sales, aver- i age Thursday 29.8" fully steady to strong prices. Good feeder steers under 750 pounds 38.50 to 42, 750 pounds p r n P e up 35 to 38.50. Good feeder heif- ers 575 pounds up 32.50 (o 36.10. average Good stock steer calves 40 to Wi.50, good stock heifer calves 34 to 40.20. Hogs average base price 30.25. Balky May Jly Oct Hyr May 103- Jly" 1035j now paid for public housing and i Oct 101' 1 o w -c o s t housing should be shifted to standard housing. This type of assistance would 101 S9 TO 102C 101' 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 rate of interest, with complete safety for your capital leading to financial peace of 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 can be withdrawn on demand during each calendar year. TIME DEPOSIT ACCOUNTS-Fixed period deposits of and over can earn higher rates of interest. Details are available on request. Opening an Account is simplicity itself, so write now to the Deposit Account Manager for further details and a copy of Deposit Account Booklet No. AO 516. produce better quality housing Lion kills boy and provide an incentive for a NANTES France (AP, _ A house-owner to improve his property. I lion slipped a paw through the I bars of his cage Thursday and Beef fnlures As .soon as the family's in- Total hogs sold 7.843. average 29.87. Sows av- orapn 22.40. (CP) Live uecf futures (.'lose Thursday. Day 37.00B; Jly 36.00A: i come increases to the level Thursday Sop 34.20B. where house payments can he Although conceding that some i d R bov on form of public housing is needed who' had in Canada, Mr. said il j ,hrough m jn 3 still carries a stigma and segrc-; surroundina at a gates occupants from Oiose in ivatelv.mnlcll zoo, sllifemi standard housing. f fraclure. bov.: Under the proposed subsidy j patrjre was ,he son (lf program, families earning less than more if the government could live in better quality hous- ing without anyone knowing they are receiving financial as- sistance. Lombard North Central barri House. Currn W1.4 y Offic 31 Lomberr) Lf-nririn EC3 Lomhnrd Nonh Canirpl n member o( thp NMior.piI Wesimm Bank Group whosn Capilnl Reserves exceed 2 9, 00 i a woman working at the zoo. Wednesday's volume: 13 eon- afforded the subsidies would tracts. stop Mr. Wilson explained. TASK FORCE MANPOWER TRAINING AND RETRAINING Any individual or group who wishes to appear before Die Alberta Government Task Force on Manpower Training and Retraining are requested to submit 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 BldR. 620 7 Ave. S.W. Calgary, Alta. Public Service Fonttion publique Canada Canada DEPARTMENT OF NATIONAL HEALTH AND WELFARE CHARLES CAMSELL HOSPITAt (402 beds, active treatment) EDMONTON, ALBERTA PU1IES: Rcnorling (o tv.intOrntionl (lip Food iblf? for H'e complete Dictnry Service, includ of 60 employee', operating ond Capitol hudnetir nmg. prepntolion ond serving of rRgulnr ond 11" diets for staff ond potients. QUALIFICATIONS: A drqret- spec Arlininittrnlion nlus tir oarers i ve] v responsible C) elated Ouoro Compptilion No. 72-E-S26 FOOD SERVICES MANAGER Salary lo SOCIAL SERVICES WORKER Salary to ronvnrri-Appli.nlionforEmploymnnriFormPSC 367-401) ovnilnbl. m Conod. Monpowrr C.rnlrni and OHicos of Inn Pobl> of to Public Snrvic( Commiiiion, 300 Confederation Buildinn, I03S5 Joipcr Avtmm, Edmonton. Albrrln. T5J 1T6 nUIIFS: Reporling to the Director of Socinl Sewitrs, ogencies; provide o potietil relative (Oirnspotiderice service. OUA1IFICATIONS: A B.SW. decirc-e o' lOinpletion of o two year coune ot o scliool of 'nriol wori. lechnolopy. ond some relalrd work OP success- ful (omplsiticm of school ond direcl- ly re.loted experience. Oitolfl Competition No 72-E-525. ;