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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 13, 1970, Lethbridge, Alberta Market Slumps For Fifth Day TORONTO (CP) The To- ronto stock market entered its fifth successive day of decline in light mid-morning trading today as it posted a sharp loss. On index, industrials were down 1.95 to 163, base metals .67 to 100.23 and western oils 2.46 to 140.85. Golds were up .21 to 159.90. The sharp decline brought the market to its lowest point in al- most two years. Pressure was exerted by a failing Wall Strett. The Dow- Jones industrial average slipped 6.53 points to 698.06 by a.m. This is the lowest level of the Dow average since April 4, 1963. Volume at Toronto was shares by lla.m., com- pared with at the same time Tuesday. Losses outnumbered gains 155 to 51 with 156 issues unchanged. Analysts attribute the sharp declines to a widespread lack of confidence in markets. Economists said this week that the losing trend would con- tinue if the Dow industrial aver- age slipped below the 709 level. It dropped below 709 on Mon- day. Egg, Poultry Market Report EDMONTON (CP) Weekly egg and poultry, report issued by the Alberta department of agriculture: Eggs To producers A large 33; A medium 28; A small 18; B 19; C 12; cracks 13. To retailers A large 44-45; A medium 41-42; A small 31-33; B 32-33; C 29-30; cracks 29-30. To consumers (in A large 46-50; A medium 43-18; A small 3341. Poultry To producers Live No. 1 chicken broilers, 20; 4 and under 5. Fowl 4 and under 5; under i, 6-7. Tur- key undef 12, K'A; 12 to 18, 2814; over 18, 26. Live No. 2 chicken broil- ers, 5 and under 6. Turkey 12, 12 to 18, over 18, 24. Beef Futures WINNIPEG (CP) Trading was light in the live beef fu- tures market Tuesday with prices steady and close to pre- vious levels. Close Tues. May 32.75 32.50 July 30.90 30.90 Sept 29.25 29.25 April 29.10 29.10 A levelling at 709 was to be taken as an indicator that the market had reached the bottom of the decline. LIGHT TRADE MONTREAL Mon- treal stock market was pulled lower by Wall Street today as inflation, lower corporate earn- ings, student unrest in the United States and developments in Southeast Asia continued to worry investors. Trading was extremely light as industrials and papers led the decline. Seagrams, which an- nounced a expansion program for its plant facilities in Quebec, fell 1% to 47. Walker-Gooderham dipped 1% to MacMillan Bloedel 1 to Moore Corp. 1V4 to 30% and IOS Ltd. 25 cents to 4.50. Among senior mines and oils, Inco eased to Hudson Bay Mining and Smelting to 26, Imperial Oil to 17% and Aquitaine to 17. On index, industrials were off 2.78 to 166.02, utilities .29 to 126.60, banks 1.32 to 168.12, the composite 2.16 to 159.11 and pa- pers 2.14 to 103.29. Combined volume on the Mon- treal and Canadian stock ex- changes was shares at 11 a.m. compared with at the same time Tuesday. DJA DOWN NEW YORK (AP) The stock market was off sharply early today with the Dow Jones average several points below the 700 level. Trade was moder- ate. Among Canadians, Canadian Pacific fell IVs, Distillers Sea- grams Walker Gooderham and Granby Mines was up 1. each. Dome Mints was up 1. On the American Stock Ex- change, Scurry-Rainbow was down and Canadian Javelin DIVIDENDS Dy THE CANADIAN PRESS Distillers Corp. Seagrams Ltd., 30 cents, June 15, record May 26. Loblaw Co. Ltd., pfd. 60 cents June 1, record May 20. Loblaw Groceterias Co. Ltd., 1st pfd. series A 37% cents; 2m pfd. both June 1, record May 20. Imperial Tobacco Co., 17% cents, June 30, record May 29 Inter-City Co. Ltd., 25 cents June 15, record May 15. MANY JOURNALS There are about 720 farm journals and newspapers published in the United States. MINIMUM THIS YEAR TO DO YOUR JOB An authorized dealership will be placed in ihe hands of one man In your area. His job will be to work with prospective clients. At our expense we will supply a facrory representative to train and work with' you for first year. Necessary requirements: Married man between 25 and 50 years old. Experience in construction, sales or business field an asset. Required investment however, finances are secondary to sincerity and abil- ity to follow directions. For application and additional information, P.O. Box 519, EDMONTON, ALBERTA II II Exclusive Franchise An exclusive franchise in o completely new ond unique repeat service field is now available for Lelh- bridge. This ii a Secretarial type service in a highly lucra- tive field offering qn immediale and continuous return on your investment. Your original investment puts you in this exclusive low-over-head, high-return business for yourself. COMPLETE INFORMATION CALL COLLECT TO CALGARY 282-8011 OR 282-0365, WRITE MRS. R. GREEN, 1334 NORTHMOUNT DRIVE N.W., CALGARY 4t, By MOLLINS OTTAWA (CP) Consumer prices moved up last month by the biggest spurt since last Nov- ember, but there were some crumbs of comfort for anti-infla- tion campaigners. The consumer price index, a measure of retail rates calcu- lated from a base of 100 points for 1961 prices, moved ahead to 129.7 points in April from 128.9 in March, Dominion Burueau of Statistics reported Tuesday. The index shows in rough form that goods and services vaued at in 1961 -had moved up in price to in March and last month. A year ago the price was Most components of the index contributed to the April in- crease, notably fruit, vegeta- bes, mortgages, men's wear and dental fees. In percentage terms, the April increase amounted to six-tenths of one per cent. That was the biggest monthly advance since the index rose at the same rate last November. FLICKER OF HOPE However, there are flickers of evidence among the statistics to suggest that the trend of price inflation is less rapid than it has been. April prices generally are subject to an extra seasonal push, government economists say. Even at that, the percen- tage advance last month is only about half as strong as it was in April, 1969, about the same as it was in the previous April and less than in April, 1967. Further, the increase in the index since April of last year is 4.1 per cent, the lowest year-to- year advance in any month since early in 1969. The increase of 1.4 per cent since the beginning of this year is less severe than the 1.8-per- Indexcs for May should show whether signs of a slowdow price inflation are genuine. on the Winnipeg corranassion houses were active on both the market and es moderately active. Prices were steady with spreading oj main activity. A Hog Producers' Board: Edmonton: Quoted 30.30, selling 30.30. Tuesday 30.31. Bed Deer: Quoted 30.30, selling 30.30. i Tuesday 30.37. Calgary: Quoted 30.45, selling 30.35. Tuesday 30.35. Lethbridge: No market, erage Tuesday 30.20. Lloyd minster: N Average Tuesday 30.11. Grande Prairie: Y No market Tuesday. Total hogs sold to 1 Sows selling 23.23. Total sold Tuesday 30.30. TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) i.m. Quotes) (11 INDUSTRIALS North, Cent AblHbl....... Ogflvle 23.50 Pemblna Pp 13.00 Power Corp 10.50 Price Co 6.50 Rolhmans 41.B7V2 Shell CDA 1-1.25 Simpson's 55.00 Simp Sears 26.75 Sleel of Can 28.00 14.50 -1.50 7.51 Alcan Algomi Sleel Alco Ind Allan Sugar Bell Tel Brazil Trac B.C. Tel Burns B.C. Forest B.C. sugar CAE Ind Cdn Brew Chemcell Col Cellulose Cal Power Coron Credit CWN Gas Cdn Indust Canada 55.. Cdn Marconi Cdn Vlckers Chrysler CPR Comlnco Cons Bath Cons Gas Dlst Sea Dom Bridge Domlar Dom Textile Dom Slores Dome Pete Fam Play Fd of Amer Gt Cdn Oil Gen Motors Gl Lakes Pap Gulf Oil Cda Hawker Sid Huron, Erla Hiram Walk Imperial OH Imperial Tob Inl Nickel int Pipe ]pv Gp A Inl Utilities Indust Accept Laurcnlide Kelly Doug A Loeb...... Loblaw A Melro Stores MasEey Ferg McMillan Bloe Moore Corp AAolson's A Molson's B Selkirk A Texaco Traders Gp A Trans Mnt Pp'h Trans Can Pp Union Gas 21 50 Union Oil 1.00 Versalile Mfg Westeel Union Car weston's B Woodward's A West Cdn Sd Zenith Elec BANKS Imperial 17.50 Montreal 14.50 NOVII Scotia 47.50 Royal 10.50 7.50 23.25 3.30 7 00 24.00 54.50 Falconbrldge 18.00 Frotwx 18.50 First Marltl Giant Y-K. G or I drum Gunnar Granduc Headway R.L. Hollinger Hud. Bay M-S Hydra Ex. Highland Bell iron Bay Iso...... J oiler Quebec Kerr Addison Key Ann con Labrador Lake Shore Lellch Langis Sliver Macassa Mads en R.L. Malarllc G.F. Marlin McNeely Maybrun Maclntyra Mela 7.00 11.25 1550 21.50 15.50 2250 21.75 13.00 9.25 14.75 27.UO 12.75 35.00 3.10 10.75 12.75 19.50 76.50 2.40 T.75 20.00 15.55 10.75 ces e Up ded both in ch of 1969 krt slight deceleration indicated by the 4.1-per-cent yearly advance in April remains and of the average annual underlying n in of about 3.2 per cent since the base index year (CP) The public accounts said Wednesday that action may have to Can n Price against government personnel involved in the refit of the aircraft carrier gia bea Trading Grain interest was evident on the In a report tabled in the say d today but the acitvity and barley bad a moderate domestic shipper buying for eastern by chairman Alfred D. Hales the committee said it "fails to ucL say were up as and locals Ji sides of orteis spreading dominated a small rye trade. The Japanese Food Agency was reported to have taken why two deputy ministers did not order an on-the-job inspection of the 1966-67 refit of the dm 197 ada of barley each from two referred to are ly JQ and Australia in its minister E. B. ations of the defence Jfi export of trade Tuesday Gordon W. Hunter, also bushels of the time deputy defence of rapeseed and minister. Mr. of is master of the Royal for class two export to countries committee said it feels 1 Nor 2 "only explored the tip of the Alberta a r k c 4 5 6 1 Durum of unsatisfactory estimating procedures, trie 3 IGA prices: and poor J 30.25 2 3 5 6 1 2 3 d 30.25 Low ave May 276Vi 275V4 THE CANADIAN 277'A Gas Trunk Co. 30.30 276V4 275 months ended March 268Y4 267% 59 cents arket 1969, 63 28G'A 283% Power Ltd., 288% 286% ended March 31: 247 244% 55 cents a 'la 240% 239 50 Mountain Oil Pipe 11 a.m. three months ended Total 1970, 42.5 cents 76 Dec 1968, May 108 107% Wcslinghouse pi 108% 108Vi three months ended nc ___ ___ 1970, 47 cents 1969, 14 1 Industries Ltd., n. 103 102% ended March 31: i 154 105% 105 1 cent a share; 17 1C mw 1.31 Superior Oil 3 lloo B.10 L- 10.00 monins enoeu iviarcn Ji: 1970, loss; 1969, 6 Ont and -S 26.00 (CP) gra 1 3. SO mostly inactive at the 1.41 c potato futures t 1 (CP) U.S. in terms of Canadian 2S.25 2.15 1-16 to 5-16. Pound 2.15 up May 19, 1770 THI LETHIKIDCI HESALD 25 Business Spotlight Success Formula For Food Firm By JEAN SHARP CP Women's Editor TORONTO (CP) If you are middle-sized, family-owned Canadian food firm, you find your market by outflanking tire not by meeting them J. Robert Ouimet of Montreal says the approach has doubled the sales of Cordon Bleu prod- ucts in the last six years. He says the company is flexing its muscles in preparation for a drive to double sales again by 1975 by expanding through Can- ada and the northeastern United ;ates. Mr. Ouimet Is executive vice president of Cordon Bleu, a firm founded by Ms father in 1935. His announcement of sales goals was made prior to presentation in Toronto by the Belgian am- bassador of medals won by the in the 1969 world canned food .Olympics held in London. They were in competi- tion with firms from 20 coun- ies, Mr. Ouimet says his company is not interested in making to- mato juice and ketchup. Their products afe higher priced than average and intended to be Eu- ropean in flavor. "We develop recipes of prod- ucts in which taste, color, tex- ture and aroma has the conti- nental influence. You notice 1 haven't mentioned quality, the word doesn't mean a thing." He says he believes such spe- cialty foods are a weakness in the strength of giant firms that his company can take advan- tage of. He says there is a growing market for such foods. LOOKS FOR STRENGTH "We hope to be strong in south and southwestern Ontario and the northeast market in the United States. The percentage of immigrants is high who ha- ven't forgotten about the taste of continental food." He says there are marked re- gional differences in taste. "It is different in Quebec, On- tario and the Maritimes for our meatballs In beef gravy. For Ontario you use chunkier meat and make the gravy a dark brown color. For the others the gravy is very light brown in color. For Ontario it must have beefy taste, for Quebec and the Maritimes there should be a rk predominance in the Mr. Ouimet says he feels win- ning the medals la a morale builder for the people ID his firm and encouraging for R Canadian manufacturer. "We talk a lot about increas- ing our export and this is a case where we were competing against companies from many nations. "L e t 's not be pessimistic about ourselves. We have to ba afraid of the giant down south, but Uiey don't do any miracles. "We cannot build sales and advertise like a giant conglom- erate, but we can do it step by step and region by region." Lethbridge Livestock (Supplied by Canada Department ol Agriculture) On offer to 11 a.m. 165 cattle. Receipts mostly slaughter cattle. Trade active. Good and choice butcher steers meeting good demand at steady prices. Good and choice butcher heif- ers about steady. All classes of cows sell readily with odd sales to 22.90. Bulls steady. The few heavy feeder sieers sold early looked generally steady. Choice steers 30.75 to 31.60; good 30 to 30.75; medium 28 to 29.50 Choice heifers 29 to 29.50; good 28 to 28.75; medium 26.50 to 27.50. Good cows 21.50 to 22.50; me- dium 20 to 21; earners and cut- ters 17 to 1950. Good bulls 26.50 to 27.50. Good heavy feeder steers 30 to 32; medium 27 to 29.50. Butcher hogs sold Tuesday f.o.b. Lethbridge 30.05 to 30.25 base price. Calgary Livestock CALGARY (CP) On offer to 11 A.M.: about 800 head, mostly slaughter steers and heifers. Trade was moderately active. Slaughter steers and heiferi sold steady. Sows were- fully steady with sales to 23. Bulls were strong. Choice steers SI to 31.60, good 30 to 30.75, medium 29 to 29.75; choice heifers 29.50 to 30, good 28.50 to 29.25, medium 27 to 28.25; good cows 21.75 to 22.50, medium 20.50 to 21.50, canners and cutters 27 to 20.25; good bulls 27.50 to 29. Replacement cattle were scarce selling at steady prices. Good feeder steers 30 to 32; good stock and feeder cows 20 to 23. There were no stock- or slaughter calves on offer. 20.62'A Midrim u.oo 49.00 Advocate Asb. 9.B7Vi Akallcho..... 44.50 Area Mines 3.50 Belcher Iron 69.25 Black 3ay 21-00 Bralorne..... Broulan 2.05 Belhlehem li-12-Vi Brunswick -W.62'A Canada Tung. Casslar...... Cenlral Pat- 42.50 Chimo....... 20.50 Conwesf 6.75 cons. Rambler 25.00 coin Lake 13.00 Cochenour 3.90 Craigmonf Dickenson Mine 4.90 Denison Mines 6.50 Deer Horn 17.00 D'Eldona..... 12.62'A Dome Mines 27.75 Donalda Discovery Mini 15.00 East Malarlk 1475 East Sullivan Inlern Mogul New Attaia New Calumet New Imperial Noranda Norlhgale Oppmiska Osisko Palino Pine Point Placer Dev. P. C. Exp Quebec Man Rayr ocfc Radlore Rio Algom Roman Corp. Sllvcrlields Sherrltf Gordon Silver Miller Sleep Rock Siscoe Tek Corp Texmonl Upper Canada Western Mines H.25 Wright Har. .Ifth Wlllrov 1.37 Windfall 110 Yellowknlfe A.50 Zenmac 2.00 .50 2.35 4.20 1.P2 19.00 2.61 1.36 1000 .12 .15 .08 Br. .58 1.40 .1.45 US 1.59 .14 4.10 M'A MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Roadhouse and McCuaig) LAST BID OR SALE m.-OO a.m. Quotes) a.m. Quotes) i.m Quofos) WESTERN OILS Almlnex Asm era Jefferson Laka 4.00 Joutel Kaiser Res 8.15 3.45 3.40 2.35 25.25 9.50 7.50 7.00 1.43 5.50 19.50 1.50 1.10 i.m 7.10 .83 1.02 .85 1.20 6.00 22.00 12.75 21.75 20.50 2.40 Kam Kotia Mentor 7.40 Pacific Pete Rank org Shell Inv .87 shell In Pfd Shell In WIs Sicks Ranier Wesf'Cdn Seed Whllepass Yuk. 16.00 CALGARY Acroll Ana Pete Barons Oil North Cont Plains Pete West Warner LediK Calmar Madison Quinalla Rexdale PIPELINE STOCKS Alia. Gas Tr. A 37.50 Alia. Gas (Nat.) 19.25 Inland Natural Gas 9.25 IOS Ventura 305 3.33 1.37 Mulual Accum. 4.5fl 18.00 Mutual Gtn F 4.0J Mutual Incomer 446 4.93 Nafnral Res Principal Gth Provident Mtl Regent Fund Royfund Uniled Accum. 665 7.2! 391 4.29 611 6.69 7 JO B.09 488 5.03 429 4.76 5.45 17.75 1.03 3.50 J.05 VANCOUVER Anuk Arctic Mining Atlas........ .95 Belh. Copper Bornile .07 Black Bros. .03 Brenda...... .28 Brenmac .43 B.C. Sugar ,07'A B.C. Sugar pld .16 Capt. Inter. Churchljl..... Coronation Credit Creslhrook..... Croyden Dolly Varden Dynasty .17 .23 .27 1.07 14.50 .18 4.20 10.25 .92 14.50 1525 3.25 4.15 1.20 7.75 .31 6.70 Norih, Central HJJyi Endako........12.50 North, Central B 26.00 Futurity Gar Metro Trans Can Banfl Can South Cdn Ex Gas Cdn Grlgol Cdn Homestd Cdn In Gas Oil Cdn Long Is Cdn Super Cen Del Rio Charter Chiellan Dynamic Pela French Pete Gl Plains Mill Cily New Cent North Cdn Oil Numac Permo Pelrol Pinnacle Place Gas Ponder Ranger Scurry Rain Spooner Triad West Decalls MISCELLANEOUS INDUSTRIALS Alco Ind 10.50 Aaualaine 17.00 Brit Nfld 4.40 Cdn Hydro Car. 9.00 Cdn PJC In Pld 23.25 CPR Pfd B.25 Cygnus A Cygnus B 3.95 Cum Prop 8.50 Gt Cdn Oil sand 3.50 Gt Cdn Oil S6-7S 96.00 __ Home A 12.50 Cdn. li Home B 14.00 Commonwealth 11.35 12.44 Primer........24 ne Pillld 2.30 HUd Bay Oil 36.50 Hud Bay Oil Pld 5-1.00 Husky Oil 9.371..........-.....- Husky Oil B Pld 37.50 Northwest Glh 4.73 Troian Husky Oil War 3.30 Growlh Equity 5.75 6.32 Weslern Mines 4.35 In Pro Pipe WIs 7.B5 Grouped Income 3.04 3J3 Wesfcoast Res .19 Util Pfd 2700 Investors Glh 9.91 10.85 Western Explora .21 Inter Slcel Pipe 5.25 Investors Mil 5.25 Ulica........1.20 NEW YORK STOCKS Supplied by Richardson Securities of Canada Beth. Steel 24.12V1 Texas Co......15.25 IS W Oils olf 5.04 Woolworlh 21.25 Volume General Motors 44.25 Wesllnohouse El 61.75 NEW YORK AVERAGES Gull U.S. Slcel 34.00 30 Indus! 695.02 olf 9.5] Inl. Harvester 24.00 TORONTO AVERAGES 20 Rails K4.83 off 1.69 Kenn. Copper 44.50 20 Indusl 142.74 off 2.21 IS Ulils 103.85 off .89 Standard Oil rV.J. 52.00 20 Golds 141.38 up 1.49 45 Slocks 729.01 off 2.81 Texal Gulf 114.50 10 B Metl TIM off Volumi 27.00 Trans Can Pipe A 55.00 Trans Can Pipe W 7-J5 Wesfcoasl Trans. 17.25 Weslern Paclik 4.30 MUTUAL FUNDS A.G.F. Special 2.15 2.30 Kamloops AH Cdn. Comp. 6.46 7.0S Lornex AM Cdn. Dlv. 7.59 8.30 ML Washington All Cdn. Venire 3.47 3.74 Madron Amer. Gin F 4.55 5.00 New Cronln Canada Growlh 5.01 5.51 New Imp. Mines Giant Mascot Grenisle Key Incf...... Growers' Wins Hy's Int. Brew Jericho .45 B 2.10 1.1S 3.75 ,10 i.m .13 ,29 .09 2.57 F 4.06 4.46 Okanagan Hellcop. 3.00 __........ illh 11.35 12.44 Primer Com'wealth Lev 2.93 3.21 Pyramid...... Corp. Inveslors 5.C2 5.39 Silver Standard _ Dreylus F U.S. 9.9410.90 T.C. Ex....... Northwest Fin. 3.71 Toxmont WHITE STAG CO-ORDINATES SWEATERS SKIRTS SLIMS and SHELLS AT FANTASTIC SAVINGS ____ 75% OFF SLIMS PANTS srmcHies WOOLS DENIMS AT FANTASTIC SAVINGS PANT SUITS 1 AND 3 PIECE STTIES Regular to 19.95 AT FANTASTIC SAVINGSQ1' DOOR-OPENING SPECIALS! LOOK WHAT i WILL BUY SWEATERS SKIRTS SHORTS BLOUSES SHOP EARLY FOR BEST SELECTION SPRING COATS Regular to 59.95 CLEARING AT IESS THAN Vl PRICE NOW 29" FAMOUS MAKERS CO-ORDINATES AT FANTASTIC SAVINGS 50% ,75% off KNIT SUITS 2 and 3 piece itylet FANTASTIC SAVINGS V2 PRICE FANTASTIC SAVINGS OPEN THURS. p.m. BATHING SUITS and 3 Styles PRICE Revolving Charge Account 509 4th Ava. S. Phone 327-2655 ;