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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 415 000 shares by lla.rn., 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 email 3341. Poultry To producers live No. 1 chicken broilers, SO; 4 and under 5. Fowl 4 ind under 5; under 4, 6-7. Tur- uridef 12, 12 to 18, over 18, 26. Live No. 2 chicken broil- ers, 5 and under 6. Turkey 12, 12 to 18, over 18, 24. 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 Stales and developments in Southeast Asia continued to worry investors. Trading was extremely light as industrials and papers led the decline. Seagrams, which recently' 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. 1% 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 278 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 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 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 Tries. May 32.75 32.50 July 30.90 30.90 Sept 29.25 29.25 April 29.10 29.10 DIVIDENDS By THE CANADIAN PRESS Distillers Corp. Seagrams Ltd., 30 cents, June 15, record May 28. Loblaw Co. Ltd., pfd. 60 cents, June 1, record May 20. Loblaw Groceterias Co. Ltd., 1st pfd. series A 37% cents; 2nd 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 hi the United States. MINIMUM THIS YEAR TO DO YOUR JOB An aulhorizecj dealership will be placed in the hands of one man in your area. His job will be to work with prospective clients. At our expense we will supply a factory representative to train and work with' you for tha 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 il Exclusive Franchise An exclusive franchise in a completely new and unique repeat service field is now available far Leth- bridge. This is a Secretarial type service in a highly lucra- tive field offering an immediate and continuous return on your investment. Your original investment puts you in this exclusive low-over-head, high-return business for yourself. FOR COMPLETE INFORMATION CALL COLLECT TO CALGARY 282-8011 OR 282-0365, OR WRITE MRS. R. GREEN, 1934 NORTHMOUNT DRIVE N.W., CALGARY 41, Consumer Prices Spurt But Don't Give Up Yet By CARL 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 hi 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- cent advances recorded both in the equivalent stretch of 1969 and in the middle of last ysar. Indexes for May and June should show whether underlying signs of a slowdown in retail price inflation are genuine. The slight deceleration indi- cated by the 4.1-per-cent yearly advance In April remains well ahead of the average annual in- crease of about 3.2 per cent since the base index year of 1961. Grain Price Review WINNIPEG Trading on the Winnipeg Grain Ex- change was improved today but at the close most of the acitvity was still centred in rapesecd. Rapeseed futures were up as commission houses and locals were active on both sides of the market and exporters were moderately active. Prices were steady in flax with spreading operations the main activity. A little exporter Hog Prices EDMONTON (CP) Prices today provided by the Alberta Hog Producers' M a r k e ting Board: Edmonton: Quoted 30.25 to 30.30, selling 30.30. Average Tuesday 30.31. Red Deer: Quoted 30.25 to 30.30, selling 30.30. Average Tuesday 30.37. Calgary: Quoted 30.30 to 30.45, selling 30.35. Average Tuesday 30.35. Lethbridge: No market. Av- erage Tuesday 30.20. Lloydminster: No market. Average Tuesday 30.11. Grande Prairie: No market. No market Tuesday. Total hogs sold to 11 a.m. 470. Sows selling 23.23. Total hogs sold Tuesday average 30.30. raying interest was evident on e dips. Oats and barley had a mod- erate domestic shipper buying for eastern feeders. Inter-month spreading domin- ated a small rye trade. The Japanese Food Agency was reported to have taken one cargo of barley each from Can- ada and Australia in its week- ly tender. Volume of trade Tuesday in- cluded bushels of flax, of napeseed and 000 of rye. Prices for class two wheat for export to countries outside IGA: 1 Nor 2 3 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) a.m. Quotes) a.m. Quotes) INDUSTRIALS North, Cent Abltlbi....... 9.62'A Ogllvie..... 23.50 Pembina Pp 13.00 Power Corp 10.50 Price Co 6.50 Rothmans 41.B7V4 Shell CDA 14.25 Simpson's 55.00 Simp Sears 26.75 Steel of Can 28.00 Selkirk A 16.50 Texaco 4.50 Traders Gp A 7.50 Trans Mnt Pp 6.B7V4 Trans can Pp 6.12'A Union Gas Jl.so Union Oil 1.00 Versalile Mfg 10.50 9.50 23.25 3.30 7.00 24.00 56.50 Alcan Algoms Steel Atco Ind..... Atlan 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 S S Cdn Marconi cdn Vlckers Chrysler CPR Cominco Cons Bath Cons Gas Dist Sea Dom Bridge Dorntar Dom Textila Dom Stores Dome Pete F.ann Play Fd of Amer Gt Cdn Oil Gen Motors Gt Lakes Pap Gulf Oil Cda Hawker Sid Huron, Erie Hiram Walk Imperial Oil Imperial Tob Int Nickel int Pipe..... Inv Gp A Int Utilities Indust Accept Laurentide Kelly Doug A Loeb....... Loblaw A Metro Stores Massey Ferg McMillan Bloe Moore Corp Molson's A Molson's B 11.37'A Falconbrldge 18.00 Frobex....... 18 50 First Giant Y.K..... Gortdrum Gunnar Granduc...... Headway R.L. Hollingef Hud. Bay M-S Hydra Ex. Highland Bell Iron Bay Westeel Union Car Weston's B Woodward's A West Cdn Sd Zenith Elec BANKS can Imperial 17.50 Montreal 14.50 Nova Scotia 47.50 Royal 13.42'A Tor-pom loSS WINES 12.62'AAcme....... 49.00 Advocate Asb. Akaltchp 44.50 Area Mines 3.50 Belcher Iron 69.25 Black say 21.00 Bralorne..... 15.6216 Broulan 2.05 Belhlehem 16.12'A Brunswick Canada Tung. 17.62'A Cassiar...... Central Pat. 42.50 Chimo 20.50 Conwest 6.75 cons. Rambler 25.00 Coin Lake 13.00 Cochenour 3.90 Craigmont 6.37V2 Dickenson Mine 4.90 Denison 6.50 Deer Horn 17.00 D'Eldona..... 12.62VJ Dome Mines 27.75 Donalda 30.75 Discovery Mine 15.no East Malartic 14.75 East Sullivan 7.00 11.25 15.50 21.50 15.50 23.50 21.75 13.00 20.75 9.25 14.75 27.00 12.75 35.00 3.20 10.75 12.75 19.50 16.50 2.40 1.75 ISO Jollet Quebec Kerr Addison Key Anacon Labrador Late Shore Leltch Langis Silver Macassa..... Madsen R.L. Malartic G.F. Martin McHeely Maybrun Maclntyre Mela 20.62'A Midrim 19.00 Intern Mogul New Athona New Calumet New Imperial Noranda Northgate Opemiska Osisko Patino....... Pine Point Placer Dev. P. C. Exp..... Quebec Man Rayrock Radlore Rio Algom Roman Carp. Silverlields Sherrltt Gordon Silver Miller Steep Rock Siscoe....... Tek Corp..... Texmont 20.00 15.25 18.75 .11) 2.00 .50 2.35 .40 .09 2.15 .26 14.50 4.20 1.92 19.00 2.61 1.36 10.00 .92 .15 I2.es 1.90 .31 Upper Canada .78 Western Mines 57.25 Wright Har. Willroy 1.37 Windfall 1.10 Yellowknife Br. 4.50 Zenmac 154.00 .23 1.31 8.85 3.45 1.00 8.10 10.00 30.12'A 26.00 .19 5.50 2.75 1.61 .23 12.00 41 28.25 3.75 1.90 .09 1.35 1.10 .90 .22 164.00 .18'A .27 10.00 .21 .22 2.60 31.25 14.37'A .32 36.00 36.62W 35.75 1.50 17.75 7JO 2.51 19.75 .08 3.80 2.51 6.60 .58 1.60 4.45 1.85 1.5? .14 4.10 .1214 5 Durum 3 IGA prices: 2 1 Nor 2 4 5 6 1 Du- rum 2 3 High Low Close Flax May 276% Jly 277'A Oct 276V4 Nov 268% Rapeseed May Jly Nov Jan Oats May Jly Oct Dec Barley May 108 Jly 108% Oct Dee Rye May Jly Oct Dec 288% 247 240% 275Vi 275 267% 283% 286% 244% 239 276Vg 276% 275 267Y4 286% 287% 245% 249% 74% 75 76 75 103 105% 107% 108V4 I02y4 105 108 108% 109 108% 102% 105% 108 109% Potato Futures WINNIPEG (CP) Trading was mostly inactive at the Mar- itime potato futures market Tuesday. Close Tues. Nov 2.15 2.01 March 2.15 2.51 Action May Be Taken OTTAWA (CP) The Com- mons public accounts commit- tee said Wednesday that disci- plinary action may have to be taken against government per- sonnel involved in the refit of the aircraft carrier Bonavent- ire. In a report tabled in the Com- mons by chairman Alfred D. Hales the committee said it "fails to un- derstand" two deputy min- isters did not order an on-the- job inspection of the 1966-67 refit of the Bonaventure. The two referred to are dep- uty minister E. B. Armstrong, 55, of the defence department and Gordon W. Hunter, also 55, at the time deputy defence pro- duction minister. Mr. Hunter now is master of the Royal Ca- nadian Mint. The committee said it feels il has "only explored the tip of an iceberg of unsatisfactory esti- mating procedures, miscalcula- tions and poor administration.1' Business Spotliglit Net Earnings By THE CANADIAN PRESS Alberta Gas Trunk Co. LM. three months ended March 31: 1970, 59 cents share: 1969, 63 cents. Calgary Power Ltd., three months ended March 31: 1970, 55 cents a share; 1969, 50 cents. Trans Mountain Oil Pipe Line Co., three months ended March 31: 1970, 42.5 cents a share: 1968, 33.3 cents. Canadian Westinghouse Co. Ltd., three months ended March 31: 1970, 47 cents a share; 1969, 14 cents. BACM Industries Ltd., three months ended March 31: 1970, 1 cent a share; 1969, cents. Canadian Superior Oil Ltd., three- months ended March 31: 1970, loss; 1969, 301, 6 cents. Dollar Value MONTREAL (CP) U.S. dol- lar in terms of Canadian funds up 1-16 to 5-16. Pound ster- ling up 3-16. May 13, 1970 THI LETHBRIDGI HERALD 25 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 UK giants, not by meeting them head on. 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 States. 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 company in the 1969 world canned food .Olympics held in London. They were in competi- tion with firms from 20 coun- tries. Mr. Ouimet says his company is not interested in making to- mato juice and ketchup. Their products are 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 Hie 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 a beefy taste, for Quebec and tile Maritimes there should be a pork predominance in the taste." Mr. Ouimet says he feels win- ning the medals Is a morale builder for the people in his firm and encouraging for a 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 they 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 of 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 steers 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 19.50. 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 heiferj sold steady. Sows were fully steady with sales to 23. Bulls were strong. Choice steers 31 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 28.25; 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. MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Roadhouss and McCuaig) LAST BID OR SALE a.m. a.m. Quotes) i.m Quoles) WESTERN OILS 4.00 8.15 3.45 3.40 7.40 6.00 .87 25.25 9.50 7.50 7.00 T.43 Alminex Asmera Banff Can South Cdn Ex Gas Cdn Grlgol Cdn Homcstd Cdn In Gas Oil Cdn Long Is Cdn Super Cen Del Rio Charter Chief tan Dynamic Pete French Pete Gt Plains Mill City New Cent North Cdn Oil Numac Permo Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Spooner Triad West Decaits MISCELLANEOUS INDUSTRIALS Atco Ind 10.50 Aquafaine 17-00 Brit Nfld Cdn Hydro Car. Cdn Pac In Pfd CPR Pfd Cygnus A Cygnus B Cum Prop Gt Cdn Oil Sand Gt Cdn Oil 56-75 96.00 Home A 12.50 Home B 14.00 Home Pittld 2.30 Hud Bay Oil 36.50 Hud Bay Oil Pfd Husky Oil Husky Oil B Pfd 37.50 Husky Oil War 3.30 In Pro Pipe WIs 7.85 In Util Pfd 27.00 Inter Steel Pipe 5.35 19.50 1.50 1.10 6.00 7.10 .83 1.02 .85 1.20 .57 5.45 17.75 1.03 3.50 4.05 4.40 9.00 23.25 8.25 4.00 3.95 8.50 3.50 Jefferson Laka joutel Kaiser Res Karn Kotia Mentcr Newcone Pacific Pete Rank Qrg Shell Inv Shell In Pfd Shell In Wts Sicks Ranier West'Cdn Seed Whltepass Yuk. 18.1 CALGARY Acroll Ana Pete Barons Oil North Cent Plains Pete West Warner Leduc Calmar Madison Quinalta Rexdale IOS Venture 3.05 3.33 1.37 Mutual Accum. 4.56 4.91 18.00 Mutual Gth F 4.04 4.44 2.35 Mutual Income 4.48 4.93 Natural Res 6.65 7.27 Principal Gth 3.91 4.29 Provident Mtl Regent Fund Royfund United Accum. VANCOUVER Anuk 32.00 12.75 21.75 20.50 v.oo 4.25 2.40 Arctic Mining Atlas........ .95 Beth. Copper Bornite Ridgfl .07 Block Bros. .03 Brenda...... .28 Brenmag .43 B.C. Sugar ,07'A B.C. Sugar pfd .16 Capt. Inter. Churchill..... Coronation Credit 6.11 7.40 8.09 4.88 5.03 4.29 4.76 .23 .27 1.07 14.50 .13 4.20 10.25 .92 16.50 75.25 3.25 4.15 1.20 PIPELINE STOCKS Crestfarook......7.75 Alia. Gas Tr. A 37.50 Croyden.......44 Alta. Gas (Nat.) 19.35 Dolly Varden .31 inland Natural Gas 9.35 Dynasty.......8.70 North, Central U.37V4 North, Central B 26.00 Futurity.......25 J.55 Giant Mascot 3.20 37.00 Gar Metro Trans Can Trans Can Pipe A 55.00 Trans Can Pipe w Westcoast Trans. 17.25 Western Pacific 4.3u MUTUAL FUNDS Granisle Key Intl..... Growers' Hy's Int. Brew Jericho U75 B 2JO 3.75 3.75 .10 .13 .29 .09 CdnTTnvesf F 4.06 4.46 Okanagah Helkop, 3.00 Commonwealth 11.35 Primer........24 Com'wealth Lev 2.93 3.31 Pyramid.......31 Corp. Investors 5.62 5.39 Silver Standard Dreyfus F U.S. 9.96 10.90 T.C. Ex........48 Northwest Fin. 3.71 4.08 Texmont.....55 Northwest Glh 4.73 Trojan.......65 Growth Equity 5.75 6.32 Western Mines 4.35 Grouped Income 3.04 3.33 Westcoast Res .19 Investors Gth 9.91 10.85 Western Explora .31 Investors Mtl 4.80 5.35 Utica........1.30 Special 2.15 2.30 Kamloops....., All Cdn. Comp, 6M 7.0S Lornex All Cdn. Dlv. 7.59 8.30 Artt. Washington All Cdn. Venire 3.42 3.74 Madron Amer. Gth F 4.55 5.00 New Cronln Canada Growth 5.01 5.51 New Imp. Mines NEW YORK STOCKS Supplied by Richarflson Securities of Canada Beth, steel Chrysler General Motors Gull Int. Harvester Kenn. Copper Standard Oil N.J. 52.00 26.12'A Texas Co 25.25 IS W oil! 138.37 olf 5.04 22.75 Woolworth 21.25 Volume U.K WosllnahouM El 41.75 NEW YORK AVERAGES U.S. sicel 34.00 30 Indust 495.02 olf v.si 24.00 TORONTO AVERAGES 20 Rails off 1.69 20 Indust 142.74 off 2.21 IS Utils 103.65 off .89 20 Golds up 1.49 65 Slock! 229.01 off 2.8! 10 B Mtt> 99.44 off US Volumi WHITE STAG CO-ORDINATES SWEATERS SKIRTS SLIMS and SHELLS AT FANTASTIC SAVINGS 75% OFF SUMS PANTS STRETCHIK WOOLS DENIMS AT FANTASTIC SAVINGS PANT SUITS 5 AND 3 PIECE STYLES Regular to 19.95 AT FANTASTIC SAVINGSQ' DOOR-OPENING LOOK WHAT s i WILL BUY SWEATERS SHORTS SKIRTS BLOUSES SHOP EARLY FOR BEST SELECTION DRESSES in a host of styles GROUP 1 GROUP 2 GROUP 3 SPRING COATS Regular to 59.95 CLEARING AT LESS THAN Vl PRICE NOW 29 FAMOUS MAKERS CO-ORDINATES AT FANTASTIC SAVINGS off KNIT SUITS 2 and 3 piece stylet FANTASTIC SAVINGS BLOUSES PLAINS-PRINTS-rLORAlS FANTASTIC SAVINGS OPEN THURS. p.m. BATHING SUITS and i Stylo PRICE Revolving Charge Account 509 4th Ave. S. Phone 327-2655 ;