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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 14, 1970, Lethbridge, Alberta _ THE IETHBRIDGE HERALD Thursday, May 14, 1970 Slump Continues On Stock Market TORONTO (CP) The To- ronto stock market fell sharply in light mid-morning trading today to its lowest level of the year. This is the fifth consecu- tive day of decline. On index, industrials were down 2.40 to 159.94, golds 3.59 to 157.21, base metals 1.82 to 97.63 and western oils 1.30 to 135.70. Industrials, base metals and western oils were at 1970 lows. Volume by 11 a.m. was shares, up from at the. same time Wednesday. The market opened at a sharp loss with a flurry of heavy sell- ing. Husky Oil, which has reported first-quarter net earnings of one cent a share, down from eight cents in the similar period of last year, was unchanged at PRICES FALL MONTREAL (CP) Light trading and falling prices again were the order of the day on the Montreal stock market today. All sectors were off sharply with banks the big losers. The Royal Bank fell to 20% and Toronto Dominion to Scott LaSalle dipped 2 to Seagrams 1 to 46 and Imperial Tobacco to 14V2. Among senior mines and oils, Falconbridge declined 3 to 151, Noranda to Inco to 41% and Imperial Oil Vi to On index, industrials were off 1.61 to 163.79, utilities 1.06 to 124.87, banks 3.54 to 163.75, the composite 1.69 to 156.77 and pa- pers .70 to 101.30. Combined volume on the Mon- treal and Canadian stock ex- changes was shares at 11 a.m. compared with at the same time Wednesday. DJA OFF NEW YORK (AP) The stock market skidded downward on a broad front early today in moderately-active trade. The Dow Jones average of 30 industrials at noon was off 8.12 at 685.72. Among Canadians, Mclntyre Corp., was off Dome Mines Alcan and Distillers Sea- grams Genstar Ltd. was up On the American Stock Ex- Threat All Wet SYDNEY, Australia (Reuters) A young man tried to hijack a Brisbane-bound airliner at Sydney airport today but failed when police boarded the plane and found he was carrying only a water pistol. The airliner left after being held up for 55 min- utes. change, Scurry-Rainbow was off Jupiter Corp. Vi and Cana- dian Javelin Vi. Livestock Lethbridge livestock (Supplied by Canada Department of Agriculture) On offer to 11 a.m. 100 cattle. Receipts mixed quality. Cat- tle market active. Good and choice butcher steers and heif- ers meeting very good demand at steady prices. Medium and good cows strong to .50 higher for the week. Bulls steady. The replacement cattle on offer are of medium quality and down. 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 22 to 23; medium 20.50 to 21.50; canners and cut- ters 17 to 20. Good bulls 26.50 to 27.50. Good heavy feeder steers 30 to 32; medium 27 to 29.50. Butcher hogs sold Wednesday f.o.b. Lethbridge 30.30 base price. Calgary Livestock CALGARY (CP) On offer to 11 a.m.: about head, mostly slaughter steers and cows. Trade was active. Slaughter steers were 50 cents higher for the week. Heif- ers were steady, with no strict- ly choice kinds on offer. Cows sold 50 cents higher with sales to 23.20. Bulls were steady. Choice steers 31.50 to 32, good 30.50 to 31.25, medium 27.50 to 30.25; good to low-choice heif- ers 28.50 to 29.50, medium 27 to 28.25; good cows 22.25 to 23, me- dium 21 to 22, canners and cut- ters 18 to 20.75; good bulls 27.50 to 29. Replacement cattle were scarce, being mostly steers in the heavy weight range and cows. Good feeder steers 30 to 32; good stock and feeder cows 20 to 24. There were no stock or slaughter calves on offer. Hogs f.o.b. Calgary to 11 a.m., 30.30 to 30.70, currently 30.30. The Calgary market will be closed to trading Monday, May 18, although the usual facilities for the handling of livestock will be provided. WAREHOUSEMAN'S LIEN ACT AUCTION, SALE Pursuant to Warehouseman's Lain Act will offer tht following items for sale by public auction at HURLBURT AUCTION SERVICE WAREHOUSE 1920 2nd AVE. S. THURSDAY, MAY 28-6.30 p.m. 4 dressers; 2 beds; TV; sewing machine; washing ma. chine; chesterfield and chair; pictures; tables; chairs; end tables; fridge; stove; pole lamp; baby buggy; kids chair; stroller; crib; lamps; cooler; TV trays; numerous cartons. THESE ITEMS BELONG TO A. G. EHRO Lot No. E379 In Storage at Owen Distributing ltd. 1216 1st Ave. S. SALE CONDUCTED BY HURLBURT AUCTION SERVICE LTD. 1920 2nd Ave. S. Phone 328-4705 AUCTIONEERS TED NEWBY KEITH ERDMANN lie. No. 41 lie. No. 458 Castle Wines Appointment R. G. (Bob) LEGER A. D. (Art) RANSOM L. L. Anderson Jr., President of Castle Wines Ltd., Growers' Wine Co. Ltd., announces the appointments of Bob Leger as Sales Supervisor, and Art Ranson oi Sales Representative for Alberto. Mr, Leger, who is based in Calgary has been with the Company for o number of years, Mr. Ranson joins the Company after 15 years wild the Canadian Armed Forces and is based in Edmonton, Casile Wines Limited market Ste. Michelle, Beau Sejour, Vali Vinta wines and B.C. Sparkling Cider through- out Canada. TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) a.m. Quotes) a.m. Quotes) INDUSTRIALS Abltlbl..... Alcan Algorna Steel 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 S s Cdn Marconi Cdn Vickers Chrysler CPR....... Comlnco Cons Bath Cons Gas Dist Sea Dom Bridge Domatr Dom Textile Dom Stores Pete Fam 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 tnt Nickel Int Pipe Inv Gp A Int Utilities Indust Accept Laurentide Kelly Doug A Loeb..... Loablaw A Metro Stores Massey Ferg McMillan Bloe Moore Corp Molson's A Molson's B North, Cent 9.00 Oallvle 23.00 Pemblna Pp Power Corp 10.00 Price Co Rothamns 41.75 Shell CDA Simpson's 11.00 Frobex le.oo First Giant Y.K. 55.00 8.25 23.00 16.50 4.50 7.50 Simp Scars Selkirk A Texaco Traders Gp A Trans Arttn Pp Trans Can Pp Union Gas Union Oil 21.25 1.50 10.50 Versatile Mlg Westeel Union Car Weston's B Woodward's A west Cttn Sd Zenith Elec BANKS Can 'moerial Montreal Royal MINES Acme Advocate Asb. Akaitcho Area Mines Barnat Black Bay Bralorne..... Broulan Bethlehem Brunswick Canada Tung. Cassiar Central Pat. Chlmo....... Conwest Cons, Rambler Coin Lake Ccchenour Craigmont DIckenson Mine Denlson Mines Deer Horn D'Elclona Dome Mines Dona Ida..... ___ Discovery Mines East Malartic East Sullivan 14.75 Falconbridge 7.00 11.00 15.50 21.00 15.00 22.00 13.50 20.37V3 26.75 12.50 35.00 3.05 10.75 12.75 18.75 16.50 2.25 1.75 17.25 14.75 18.50 20.25 19.00 9.75 4J.OO .3.50 6B.50 21.00 15.00 2.05 16.50 43.2S 17.50 14.50 41 75 20.00 6.62 25.00 52.75 3.90 6.25 6.50 15.00 12.75 27.50 GorlOrum Gunnar Grnnduc Headway R.L. Holllncicr Hud. Bay M-S Hydra Ex. Highland Rell 9.12V2 Iron Bay 14.75 Joliet Quebec Korr Addison Key Anacon Labrador Lake Shore Leltch Lanqis Silver Macassa Madsen R.L. Malartic G.F. Martin McNeely Maybrun i Maclntyre Meta Midrlm Inlern Mogul New .10 New Calumet 255 New Imperial .J8 Noranda..... 2.31 Northoate .40 Opemiska Osisko....... 2.15 Patino....... .25 Pine Point 13.62W Placer Dev. 8.50 P.C. Exp. 190 Quebec Man IR.lWa Rayrock..... 2.50 Radiore 1.38 Rio Algom 9.75 Roman Corp. .94 Silverfields .15 Sherritt Gordon .45 Silver Miller Steep Rock 1.90 Siscoe 30.00 Tek Corp..... .07 Texmont Upper Canada Western Mines Wright Har. Willroy....... Windfall Yellowknife Br. Zenmac....... .78 54.00 .27 1.35 1.10 6.30 152.50 .23 1.31 8.30 3.40 1.05 7.75 9.00 30.12Vi 25.00 .19 3.50 2.75 1.55 .23 11.M% .40 28.25 3.60 1.86 1.36 1.07 1.00 .13 .21 9.50 .21 .24 2.50 30.50 12.75 14.00 .30 31.50 36.25 35.50 .66 .20 1.51 .30 17.50 7.50 2.51 77.50 .09 3.60 2.45 1.61 4.30 1.25 1.65 .14 3.90 .12 MISCELLANEOUS QUOTATIONS Vancouver, Calqary, Montreal (Supplied by Doherty, Roadhmise and McCuaig) LAST BID OR SALE a.m. Quotes) a.m. QUOtesl a.m Quotes) WESTERN OILS Husky Oil War 3.15 Alminex Asmera Banff Can South Cdn Delhi Cdn Ex Gas Cdn Grfgot Cdn Homesld Cdn In Gas Oil Cdn Long Is Cdn Super Cen Del Rio Charter CrUeftan Dynamic Pete French Pels Gt Plains Mil! City Hew Cont North Cdn OH Numac Permo Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Spooner...... Triad West Decalta 3.95 In Pro Pipe Wts 11.12V4 In Util Pfd 7.55 3.30 3.10 3.20 7.JO 6.00 8.25 Inter Steel Pipe MISCELLANEOUS INDUSTRIALS Atco tnd Aquataine ,rit Nwfl 4.30 Cdn Brgw A Pfd 31.00 Cdn Hydro Car 8.75 Cdn Pac In Pfd CPR Pfd Crows Nest In Cygnus A Cygnus 3 Cum Prop Gt Cdn Oil Sand Gt Cdn Oil S6-75 96.00 Home A Jefferson Joutel...... Kaiser Res Kam Kotia i L Ont Port Cem Mentor....... .81 Newccne 24.75 Pacific Pete 9.15 Rank Org 7.25 Snell Inv 21.50 7.00 Shell Inv Pfd 21.681 1.44 Shell Inv Wts 9.00 5.30 Sicks' Rainier 4.25 19.50 West Cdn 2.30 1.48 Whitepass Ytrk 16.75 1.08 CALGARY 5.JO .75 6-'P Ana Pete......09' Rarons Oil.....07 North Cont .03 Plains Pete .28 West Warner -52 Leduc Calmar 5-JO Madison Qulnalta Rexdale JjJS PIPELINE STOCKS Alta. Gas Tr. A 37.00 Alta. Gas Tr. PA 68.75 Alta. Gas (Nat.) 19.50 9.87% Cdn. W.N. Gas 14.50 16.87W inland Nat. Gas 9.25 Com'wealth lev 2.87 3.15 785 Corp. investors 4.95 5.39 DreyfUS F U.S. 9.81 10.75 Northwest Fin. 3.59 3.95 Lake 10 Northwest Gth 4.14 -1.55 1 36 Growth Equity 5.65 6.21 Grouped Income 2.95 3.23 5'l7 Inveslors Gth 9.85 10.77 230 Investors Mtl 4.77 5.2? '63 IDS Venture 3.02 3.3u 575 Mulual Accum. 4.39 4.33 51'50 Mutual Gth F 3.96 4.3fi 1717W Mutual Income 4.43 4.87 Natural Res Provident Mtl Regent Fund Royfund fi.56 7.17 6.05 6.62 7.57 7.97 4.BB 5.03 23.00 8.00 49.00 3.65 4.00 9.50 3.50 United Accum. 4.23 4.65 VANCOUVER -21 ,r Arctic Mining .26 Atlas ......1-10 Beth. Copper Somite Rtrtge -18 Block Bros.....4.00 Brenda ......10.00 Brenmac .85 B.C. Sugar 17.1214 B.C. Sugar pfd 15.00 Capf. Inter.....3.25 Churchill......4-00 Crasthrook 8.00 Croyden.......43 Doily Varden.....30 Dynasty ......8.35 Giant Mascot 3.20 Key Ind. Growers' WIni Hy's...... Int. Brew. Jericho .17 2.10 3.25 3.75 .09 .10% .13 North, Central 10.75 Nortti, Central B 26.00 Pacific Gas Trans. 11.75 Gaz Metro......4.55 Gaz Metro pfd A Trans Can Pipe 26.50 Trans Can. Pipe A 54.00 [Jew Cronin Western Pacific 4.20 Helicop. 3.55 MUTUAL FUNDS .18 A.G.F. Special 2.00 3.20 Silver Standard 1.50 14.50 All Cdn. Comp. 6.41 7.01 T.C. Home Pitfld 2.20 All Cdn. Ventre 3.36 3.67 Texmont.......55 Hud Bay Co 15.00 Amer. Gth F 4.46 4.90 Trojan Hud Bay Oil 36.00 Canada Growth 4.92 5.40 Western Mines Hud Bay Oil Pfd 52.50 Cdn. Invest F 4.01 4.41 Westcoast Res .19 Hugh Russ Pfd 21.00 Collect Mtl 5.33 5.86 Western Explora .21 Husky Oil Commonwealth 11.1512.22 Utica..........1.02 NEW YORK STOCKS Supplied by Richardson Securities of Canada Amer. T. and T. Anaconda Beth. Steel Chrysler...... Comsat....... Dupont...... General Motors Gulf Harvester Montgomery Ward -14.25 20 Golds 157.05 off 3.75 Sears 54.25 10 B Mets 94.67 off 2.78 Standard Oil NJ. 51.62'A 15 W Oils 131.26 off S.74 Texas Gulf 114.25 Texas Co. 44.00 25.25 26.00 22.50 24.50 Woolworth......2I.W, Westinghouse El 41.75 23.75 U.S. Steel.....34.50 !3.75 TORONTO AVERAGES Volume HCW YORK Kenn. Copper 46.50 20 Indust 150.58 off 3.76 30 IndUSt 481.49 off 12.35 50 Rails 144.55 off 2.12 15 Ulils 225.11 off 3.38 Volume Wheat Piles Up In Canada Bins OTTAWA four main wheat-exporting countries held total stockpiles of afaiost bushels March 1, despite a slight increase in sales this year, and Canada ac- counted for more than 40 per cent of the total supply. The March Wheat Review, published today by Dominion Bureau of Statistics, said four- country stocks available March 1 for export or carryover were up by 17 per cent to bushels from bushels a year earlier. Exports from the four coun- tries in the first seven months of the current crop year in- creased by nine per cent to bushels from bushels in the same period a year earlier. Wheat exports by the United Ststes and Australi'a were higher this year, those from Canada and Argentina lower. Canada's March 1 surplus to domestic requirements amounted to a record from a year exports of bushels. EXPOKTS DOWN Canadian exports were down from the bushels shipped in the first seten month? of the 1968-69 crop year and were off the average pace of bushels exported in the period during the pre- j vious 10 years. Canada's wheat stocks March 1 were the biggest among the four traditional exporters and its exports in the seven months were less than half those of the j United Status, slightly higher than Australia's. The United States had stocks of bushels March 1 after seven-month exports of Australia's stocks were bushels after exports of Argentina held bushels after seven-month ex- ports of Tax Expert Comments On Conference A By I. II. but on the main, ignor- They regard western union Topic: "Direction of a last step in an attempt to union liked to tax reform out an equitable redistri- "In the years ahead of economic power, and Lethbridge Conference oe looked back upon as an toric event, and as something Ml'll of a turning point, for the West, "-UJ i i and for After this opening Grain Prices in his keynote address on subject "One Prairie (CP) Trading Lhe Hon. James fairly good in feed grains Federal Minister of Supply, light in other commodities ceeded to endorse the the close of the Winnipeg of amalgamating Exchange today. Saskatchewan and Alberta had a good volume of one province to be called by exporters, domestic ada and maltsters, with of- The scene was this from the wheat board at Conference on western advances in new- sponsored jointly by the futures. sity of Lethbridge and the shippers were buy- bridge Herald. The oats in moderately good toward western union has for eastern feeders. ready begun and the fact rallied in the late a cabinet minister from on a light local and west has despaired of the house trade. pects for the west in had a light trade with a tion as presently structured commercial interest and as it is likely to be spreading. by current negotiations, is was mostly commission ly selling and exporter buy- Canadians from all on the scale-down pattern. would do well to follow loadings of Canadian these events in western Wednesday included The federal government bushels to the Barbados, profit from its first hand to Syria, to the ledge of the western mood. and to Nor- will gain some insight into probability when Ottawa of trade Wednesday clares itself on. the final bushels of of its tax reform package. of flax and the west is united in of rye. it is in its opposition to for class two wheat philosophy and many of export to countires outside specifics of the present 1 Nor 2 3 Paper 4 5 6 NOT THE 1 Durum 2 Sunday's speech by Mr. 3 1.67% IGA prices: 1 ardson wasn't his first on 2 3 subject, even though it was 5 6 1 most 2 3 Over the past year he has sistently articulated and ly explained to Canadians where the origins and depths of the west's frustration which Prices from alientation at the moderate level to anger and hostility at the other (CP) Prices today provided by the Alberta The substantial success of Producers' Marketing Parti Quebecois in nearly one-quarter of the popular vote in Quebec has breathed new enthusiasm into the Quoted 30.30 to 30.50, selling 30.30. Aver age Wednesday 30.37. of many western leaders unite the west. As they see Deer: Quoted 30.25, sell- the spectacular success of 30.25. Average Wednesday Levesque and the four year portunity given the rest of Canada to convince Quebec of the viability of Quoted 30.30 to 30.70, selling 30.30. Average Wednes- means that everything is now 30.57. for grabs. Nothing is No sales. Aver- negotiable. There is considerable Wednesday 30.30. on the Prairies for the view at all points selling 23. unless a western power block is assembled quickly, the new Canada will be negotiated hogs sold to 11 a.m. 797. Total hogs sold Wednesday tween Quebec, Ontario and average 30.52. tawa and the final solution imposed on the west, the and the Maritimes. Many who support the Richardson thesis believe that even with the western union, west's aspirations for the omic reorganization of may be pondered to, even Royal TRIPLE Opens SHIFT C MONTREAL (CP) HAND Royal Bank of Canada HOC nounced today it has opened representative's office in because of the "tremendous growth in trade" between Canada and Faster, Safer Shifts, More RPM's Than Appointed resident Other Floor Shifter f ative was G. Vernon whose 35 years the includes service in Ontario and The bank previously all of the Far East from Hong Kong Point that failing, a first step in the establishment of a new stale. The west's disenchantment is based on, both economic and philosophical grounds. The con- WINNIPE G (CP) Grain qunies Thursday (basis Lake- High Low Close 277 276% 275 ..Flax May Jly Oct Nov Kapesced May Jly 288% NOV 245% Jan 239 Oats 276 275Vi 274 285 238% 74% 75Vt 76'A May Jly Oct Dec Barley May Jly 108% Oct Dec Rye May Jly Oct Dec 109% 109% 104% 107% 108% 109 101% 104 107% 277 27414 268 244% 238% 74% 75V4 76 108% 109% 109% 101% 104% 107% Beef Futures WINNIPEG (CP) Trading was light with a little commis- sion house buying interest in the live beef futures market Wed- nesday Open High Low Close Wed. May 32.95 32.95 32.90 32.90 32.75 July 30.90 30.90 Sept. 29.23 29.25 Nov. 29.10 29.10 Potato Futures WINNIPEG (CP) Maritime potato futures market was in- active Wednesday with m> trades executed up to mid-session. Nov. March Close Wed. 2.09 2.15 2.53 2.15 centration of economic power in central Canada, the lack of a regional banking s y s t e m, the disadvantage, to western con- sumers created by protective tariffs on imported goods, the lack of a national freight rate policy which permits western goods to compete to eastern markets and the lack of a Fed- eral regional development pol- icy which meaningfully causes a decentralization and equitable distribution of economic oppor- tunity are the classical elements of western discontent. RECENT SOURCES The lingering wheat crisis, and the lack of aggressive pol- icies for development and ex- port of western oil are more re- cent sources of aggravation. The White Paper on tax reform has drawn nearly universal criti- cism from western leaders be- cause it has synthesized most western grievances. Reduction of private capital, of which the west is woefully short; reduction of the rewards for risk-taking, considered es- sential for western economic development; the demise or forced merger of small business, the economic and social cornef- stone of western communities; the further concentration of cor- porate power in the hands of eastern head offices, a guaran- tee that the west will remain a branch office economy; the withdrawal of capital from re- source industries, the frontier- busters of western and northern Canada; the further erosion of the right to pass one's savings to one's children, a highly-priz- ed western social value; accel- eration of tlie establishment of a government controlled Gal- braithian economy, anathema to the entrepreneurial western spirit; "re some of the result of the White Paper's implementa- tion predicted by Western Pro- vincial Premiers. Western discontent is a real- ity. It must run its course, but the direction it takes and wheth- er it becomes a positive of neg- ative factor in the constitutional arena, will be very much influ- enced by the final form of the Federal Government's tax re- form plan. Mr. Asper is a Winnipeg law- yer. EXPERIENCED SECRETARY REQUIRED Local professional office requires the services of on experienced secretary capable of taking complete respon- sibility for work organization and supervising a stenographic pool. Only those persons with at least five years experienca will hr: considered. Apply in strict confidence, stating age, education, previous experience and salary expected Box 3, The Lethbridge Herald ALL CLASSES INSURANCE AUTO HOME BUSINESS FARM FORSTf R AGENCY Phone 327-2793 "Exclusive Franchise" An exclusive franchise in a completely new and unique repeal service field is now available for 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 COMPIETE INFORMATION CAIL COHECT TO CALGARY 282-8011 OR 282-0365, OR WRITE MRS. R. GREEN, 1334 NORTHMOUNT DRIVI N.W., CALGARY 48, AlBERTA. ACCESSORIES HANDSOME CHROMED FLOOR CONSOUTTE COMPIETf ONLY 44.95 BABY MOON HUB CAPS BEAUTY TRIM RINGS CAl CUSTOM HOOD SCOOPS From HAWK Tachometers Oil Amp. Kits Oil, Water Amp. Kits ARROW Tachometers Water Temp. (Mechanical) Oil Gauge Amp. Gauge CUSTOM GEAR SHIFT KNOBS VALVE COVER WING BOLT SETS AIR CLEANERS PEDAL PADS WIRE LOOMS PIN STRIPE TAPE RACING STRIPE KITS WINDOW TINT DECALS CHROME EXTENSIONS New SEE IT NOW ELIMINATOR SPOILER KITS Fits all ears 52" and 56" LIFT KITS For Coil or Leaf Springs VACUUM GAUGE Midland Auto Supply Ltd. 421 5th St. S., Lethbridge LEADERS IN HIGH PERFORMANCE ;