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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 16, 1972, Lethbridge, Alberta Miw 16. 1972 THE JSTHBIilDGE HESALJD 15 rta econom Albe __ -_ n-l-M.rv-B'Ti rv -n -ET> 8 (3 B b J Stron 111 Ly Vancouver, Calgary, Montreal (Supplied by Uahcrly, Limited) '-AST olt Stasifidd outlines ntOCK, ITIUrttPt 'HID i EDMONTON (CP) Unom- year ucre reported 11.8 payment in Alberta dropped more Uian for the com- i 4.9 per cent of the labor during March compared period last year, wiih f 0.0 per cent in March last rear, f 1'tff reflecting a generally strong 1 economy for the start of 1972. J. Tlic Alberta Bureau of last Goriiary total-linM SKJ1.4 million. Retail sales also incrcn.sed, with the total for January at lies reported here that the cent more than the TORONTO (CP) Tho To- Combined volume on the bcrta economy had began January, and substan- ronto stock market and Canadian by maintaining n increases reported in re- higher in quiet mid-morning trading after registering fractional losses in the early at 11 a.m. was shares, compared wit at the same time of construction and by showing an upturn in the number of building permits sales of automobiles, washing machines, clothes dryers and refrigerators. utes of the bureau, in Us April report also said that The industrial index rose index, industrials Alberta business trends, trends for the first to 200.52 and golds 3.44 to .64 to 205.75, tile an incrca.se of months Ibis year compar- Base metals dropped .32 to 94.55 and western oils .12 to 45 lo 20.1.96, banks .07 to 269.27 and utilities .01 in the value of building permits issued during the wiih last year showed an increase of 17.7 per cent. Volume by 11 a.m. was shares, up from at the same time dropped .49 lo (17.27. Rothmans gained 1 to S21, Peoples stores 1 to of 1972. The largest increase was for residential building, followed bv commercial, the same time, however, the Edmonton Calgary consumer price index, a measure nf HIP. fnsf nf rnripin and Food processing, pipeline, steel and oil refining issues posted moderate gains, Bridge to S2S Cana- per dian Cabiesy terns to Slrf and ccnt in Ule 12 'lhe uoiasco ,2 for the lirsl two months this i end of paper and forest bank and and loan stocks drifted Border Chemical ''a Eiedrohome gained S'B to Rothmans to Weslinghouse Canada to Magnasonic Canada 'a Dominion Textile '2 to Canadian Arena 'i to and Hoyal Bank 'i to and Consumers Distributing to '2. BP Canada was up 3i to SlSii, Camflo Mines 25 cents to S4.45, Sherritt '.i to Dynasty to and Inco Vi to Slater, Walker YORK (AP) Stock market prices edged higher today, although brokers said the shooting of Gov. George Wallace of Alabama was keeping price gains limited. The Dow Jones average of 30 industrials at noon was up .03 Livestock There were no cattle sales at the Lethbridge yards Monday due to the weekly sale of wean-er and feeder hogs. Sales 650 hogs. All classes of weaner hogs met keen demand j at sharply higher prices. Wean-ers SI to per bead higher. Light feeders under 100 Ibs or more higher. Heavy feeders over 300 Ibs to per head higher. Weaners 15 to 18.75 per head; light feeders under 100 dropped U to Toronto Star B 'i to Placer to Bethlehem Copper 'j Among Canadian issues, Dome Mines was up 1U to S71. Mclntyre Porcupine was Grain 21 to 23 per head; heavy feeders 100 to 130 Ibs 27 to 34.75 per head: heavy feeders over 130 Ibs 36 to 40 per bead. Light and CP Ltd. to to Winnipeg Grain feeders under 100 Ibs sold mnvpnc-AT r> On the American Stock Ex- 31 to per cwt. heavy MONTREAL (CP) Prices minhnw nil! WINNIPEG (CP) Nearby ers over 100 Ibs sold from 25 to edged higher in light trading on chanf' bcuirj Rdlnbm futures continued slight de- 32 per cwt- Bred sews aid Bills the Montreal stock market was down to S16 and Brascan cline5 at mid-session on the 57.50 to si ner head i Ltd. was up 1 Winnipeg Grain sold Monday at the Leth- Hue) Co Hut! Bey Oil Hud Bny Pfd Russell 10.5! ,1 13 d.SJ INDUSTRIALS 7.61 I B.C. 5 51 B-C Suriar Pld i; 7.55 Cap! Inter 5 1-1.57 16.01 Crest For Ir.d i 3.F1 -1.30 Hys J 6.10 6.t7 InlL-.'icr Bre.v 3 5.24 S.75 Key Ind'-f Drc'y'us F U.S. 13..-3 M.77 Pacific '.V Air 25 Gr In Shares Slarnpede Res i i Gr Equity OILS Irm-t Gr F 13.7-1 13.39 At-jany Oil lnve--l Mutual .S 7fi Plain', Pete Mutual Ac 579 6-37 West Toronto industrials (Supplied By Richardson Securities of Canada) LAST RID OR SALE a.m. Quotes) MINES eethlehjv-i Canada Tung Casslar Cenlral Pat. Chimo Ccnwest Ccns. Ramble Cable China seen making pitch for better relations months bridge yards 30.25 to 30.35. Ex- i posted fractional gains under j port hogs sold from 23.70 to 24. limited commission house buy- 1 15 livev.-eight. ing. Oats and barley were nn- 1 Calgary livestock changed in a dull trade. Rye! CALGARY (CP) Receipts higner. j to n a-m> tod Qn Caigarv ir changed to PEKING (Reulcr) China has appointed five new vice-for- eign ministers in a move seen rl lu rt.iu. lUUdJ' Ull tllU VdlKdl Y while flax and rapeseed were market were 875 head i lowcr to i mainly mixed grades of slaush. nly mixed grades of slaugh- ministry and Cliang was direc- Monday's volume of trade tcr cattle. Trade was active, tor of the ministry's Western j was m.W> bushels o[ flax. 663. Slaughter steers sold steady here as underlining a serious ment. effort to improve international relations. I Two foreign ministry assist- a woman be- lieved to he Chairman Mao T s e -t u n g 's also been named. Diplomatic sources said today the appointment of so many at the same time shows how much China's role in world affairs has developed in the last year, and how big a part foreign affairs now play in top-level thinking and policy. European and American depart-1 bushels of rye and i w j t h strictly choice k i n ds JNo relief in education costs seen bushels of rapeseed. j Mid-session prices: Flax; May higher 2.65 -M. July ln tower 2.CG Oct. un- changed 2.G9 Vj.Nov. unchanged scarce. Heifers were fully steady with younger and over- finished kinds being sharply discounted. Cows steady with sales to 28. Insufficient bulls on 2.69, Dec. lower 2.66 to establish a market Rapeseed Vancouver: June choice steers 36.25 to 37, good lower Sept. lower M_ medium 33 50 lo 2.52, Nov. unchanged 2.50 i choice Heifers 34.25 to 35.10. Jan. '2 higher 2.48 ij. i moA M lo 34 25 mediunl 30 lo RED DEER (CP) Educa- tion costs in Alberta will con. The new appointments were j tinue to climb and the taxpay- announced in a note to diplo- er calj expect to pay the bill, j jnatic missions here. Sa3rs Eric J. Hanson, professor i The two foreign ministry as- economics at the University of Alberta. He said taxpayers are going May 2673.i to pay more by way of income I ,ily 269's tax, property and new taxes. Oct Projections place i Nov Rapeseed Thunder Bay: May 1 ].s lower 2.43 S.K. July 5s lower 2.44, Oct. higher 2.45 Nov. higher 2.45' 2. Oats: May unchanged (59, i July not open, Oct. unchang as- sistants are Miss Wang Hai- jung, believed related to Chair- man Mao. and Chang Wen-chin. Before the new appointments, there were two vice-foreign Grain quotes Monday ibasis Lakcheadi: Low Close ministers, Chiao Kuan-hua and Han Nien-lung. The five new names arc Chung Hsi-lung, Ma Wen-po, Ho Ying, Fu Hao and Yu Chan. tures on education at more 33. Good cows 26.50 to 27.50, medium 24.50 to 26, canners and cutters 20 to 24.50. Replacement cattle were in short supply, being practically all steers weighing 750 pounds up and selling on a steady basis. No stock calves were of- fered. Good feeder steers 750 pounds up 35 to 37.40. Hogs average base price 30.30. OTTAWA 'CI'i Conserva- tive' i.ivdtT llohert Slanlield oiulinud in the f'ommons Mon- day a ncv, of Ca- nadians Uiai keep income lor tax purposes in "constant'1 dollaiy. rndcT his proposal, povcni- rntr.'Us ,-tjuld no longer count on nikiiio.'i ID nioie inoroy irom iaxc.s ff.r the federal cof- Mr. Slanliold said dining de- ate on the govern m e n t "s idfict income would be estab- ished from a base ol what money worth in 1971. If the of living increased by 10 ec-nl in a tfiven year, the a mount of a taxpayer's income subject to tax would be reduced by ]fi per cent. The hchume v. ould force I he izovemment to come to Parlia- im-m HI seek tax incrtases, rather than sitting back and al- lowing inflation "lo do its dirty wcrk for il." DKTAILS Later, speaking to reporters. Mr. SUmfieid said his tax ideas would still benefit persons with higher incomers more than those making or a year. But a Conservative govern- ment would ''can all those de- ductions" Canadians currently claim and institute a system of tax credits. Under such a sys- tern, individuals would be granted a certain credit against taxes for each child, another if they were over 65 or others for similar reasons. 'Jhe current system of declur- lions means more in lerim nf rash to those higher tax brack- ets, Mr. Stanficld said, lie said his proposed idea would cost, in terms of lost tax revenue from inflated about million a year if in- llation continued to run at about 1 five per cent. It would put government "in a squeeze" and make it operate in a "totally different stmo- KLI-X'TION PLEDGE He said in the house he would apply his system of calculating future net income for taxpayers in constant dollars if his party is elected in the next general ejection. It would mean that taxpayer-: would "not he if their income simply kept abreast of the standard of he added. 1965 battle on Inter ;ul N'j V.'e5t Homes rvew Athona Mew Calumet W. Hctse Copper Nrjrandi Oilsko" Vickcrs Chrysler C.P R. Corninco Cons Crin W N'at Dist Seanra Dem Bridoe 71.50 Trntfprs C-rp A 1.20 Trans Mtn Pp 11.65'j Tran? Cda Pp 17.00 Union Gfis 5.15 Unicn Oil Vorcaliie W.fg 33.75 V.'esteef V.'ert Cfn Seed 7enith Flee BANKS New York stocks (Supplied By Richardson Securities nf Canada) than SI billion by 1974-75. he j Jtm said, and at SHi to 52 billion i Sen by 1981. :No'v He told the annual confer-; Jan Ilapescpd Vancouver 255'.i 2523.i iiog prices Fu previously was director-' ence of the Alberta Teachers'! Rapcsrrd'Thnndrr Bay general at the foreign LOlllld earnings higher affairs i administration that there will May he more centralization in the i Jly" future and school boards will Oct have less local autonomy. j Oats 10 DIE IN CKASIi MANILA {Renter) At least Oct I 10 persons died in a train-bus Rye collision in Angeles City GO May miles north of this Philippines Jly [capital. iQct 245s j 2-lG 101 '4 103 101 '2 24-1 244 245'4 245 245' 4 i (CP) Aver- age prices to 11 a.m. provided I by the Alberta Hog Producers j Marketing Board. 1 Edmonton: 30.10, average Mon- i day 30.22. Red Deer: 30.10, average Mon- day 30.23. (Calgary. 30.20, average Mon- I day 30.25. j l-iethbridge: iday 30.29. An-.r T and T Anaconda Beth Steel Chrysler Di'Dont GM Gulf ipt Harvester Kenn Copper Scars ;o Golds !93.'6 up 3 1" Std Oil r( 71.12'; 10 Base Mot 9J.38 Texai Oulf 117.12's 15 Oils 21K79 up .73 Texas Co 30.15 Volume RB9.0M Wichcs Corp KEW YORK AVERAGE? i Woolworfh Indus) up 0? Westir.qliouse Elet iO.E7'3 20 Rails up 66 'U.S. Steel 38.62'; 1.S Utilities 1CS.E3 K TORONTO AVERAGES ft5 Sleeks up .31 20 InHi'St 205.7? up .63 Volume MUSCAT. Oman (API Brit- ish-led Omani troops have occu- pieci a .series of mountain passes to cut off rebel Dhofari tribes- I men from their supply bases across the border in South i Yemen, a government commu- nique ]-eported today. j The sultan's troops achieved their objective after a seven- month c a m p a i g n that has cleared hundreds of Chinese- backed rebels from large areas of Oman's Dhofar province, the communique said, j Omani jets, flown by British pilots, silenced rebel positions from which fire had been di- i reeled at government troops at 1 Tavri At air, the communique said. About. 2.000 Dhofari rebels 1 have been fighting since 19fi.i to overthrow Oman's sultan. They are ranged against govern- ment troops. Oman, an oil-producing coun- try, i.s located on the Arabian peninsula between the Gulf of Oman and the Arabian Sea. i Studeiil loans deal announced 10] OTTAWA (CP1 Banks is-' evnment pays (be interest on suing Canada student loans i the guaranteed loans until that have agreed to give unemploy- time. ed borrowers six months' grace Defaulted loajis are. returned before reporting Ihe loans in by the banks to the finance rie- I default, Finance Minister John partment, which then assumes Nil. average Mon- i Turner told the Commons. collection responsibilities Normally, the student loan Mr. Turner said in reply to a repayments must begin six months after the end of the ac- ademic term for which they were issued. The federal gov- Beef fulnrcs WINNIPEG (CPl Live beef futures close Monday. May 37.2SA; Jly 36.25; Sep 34.25B. Monday's Xo con- tracts. Russia hurls charge I-MTED NATIONS (API _ The Soviet Union told I'-p United Nations Security Council loday the Unitetl States claim that it mined North Vietnamese harbors in the right of self-de- fence is groundless. "The facts, wlu'ch are known to the whole world, show that no aggression has been committed against the United Am- bassador Jacob Malik wrote to the Council. "On the contrary, the VnM H States itself is acting as an ag- gressor in Vietnam." he said. U.S. Ambassador George Rush informed the Council last week that the mining was under the "inherent riaht of self-defence" provided by UN charter. Malik said in his letter that the U.S. action is "seriously complicating the situation in Southeast Asia and is fraughl with dangerous consequences for international peace and se- curity." He also accused the Nixon ad- ministration of violating the principle of freedom of tion embodied in the 1938 Ge- neva conventions on the law of the seas, which the United States signed. China sent UN Secretary-Gen- eral Kurt Waldheim a copy of a statement made by Peking last week reaffirming its backing ol North Vietnam and charging that the United States "violates the freedom of international navigation and trade and wan- tonly tramples upon the charter of the United Nations and inter- national public law." USE CARS About 63 per cent of Austral- ians travel to work by car. ei- ther as drivers or passengers. question by Opposition Ijeadcr Robert Stanfielci that the gov- ernment will consider extend- ing the interest-free period for unemployed borrowers. CORRECTION! In Ihe PERDUE MOTORS (1964) LTD. advertisement on fagt 9 of todny'i Chinook section, the price of the Firenio SL Sport Coupe, refers to the price per month. CALGARY (CP) The earn- ings of Greyhound Lines of Canada Ltd. increased to or 37 cents a share during the three months ended March 31, due mainly to a non- recurring gain of from Ihe sale of property. This compares with or 15 cents a siiare the corres- ponding period. dross revenues were 628 compared with By Gene FawcettH ARTS CRAFTS SPECIAL PLASTIC Tl K NOW PERMIT ARTISTS TO PAINT WITH PRECISIOM DIRECTLV FROM TUBES OFQILflR j ACgYLIC PAIST. DIFFERENT j EFFECTS ARE POSSIBLE BV VARYING PRESSUREAND i SPEED OF APPLICATION... ON Me TAPS AMItmi- CD TO ALMOST ANY SPECIAL! 3-WAY COLOR TV VALUE from... JACK'S RADIO TV SALES SERVICE YOUR "PHILIPS DEALER" IN LETHBRIDGE IIM1TED QUANTITIES AVAILABLE THE BEAUMONT MODEL CL640 26" Clean, contemporary lines distinguish tho Beaumont. Tho cabinet is of solid wood, finished in Natural Walnut. The cabinet is buill In last. End panels are three-quarters of an inch thick; each trimmed and fitted to makn o perfect join. Look lor the subtle touches that adds much to tho quality of a fine piece of furniture. new Modular -1 chassii witli built-in dependability. Tho 3 faces cf the Beau A Consollete Model: To sui! contrmpornry oncl troniitionnl room rlc-roi v A Rollaway Model: Mobility in its fashionable cradle-typo Natural Walnut bo so with en r pel pi id ing casters. The re I lawny base is on opt ion o I A Decor Model: IVrfer.t for completing the appeaiance of occasional table, den, family or recreational room TV STAND AVAILABLE FOR ADDITIONAL 522 S639 PHiUPS MODULAR 4 "PHILIPS TAKES TIME TO BUILD THE BEST" "5 Year Warranty Plan" Our Warranty Spoiled Out First, if anything goes wrong wiih your Philips Modular 4 during the first year, we guarantee In fix it at no extra cost to you- That in- cludes replacement of ports RS well as labour to install thfm. PHILIPS MODULAR 4 "A Major Breakthrough in Color TV" Automatic finr tumnq Automatic horizontal hold Automatic color control Personal preference Crisppr twitch Syncrotint Thumb wheel controli 4 circuit paneli make a innp JACK'S RADIO T.V. SALES SERVICE 302-13 St. North Phone 327-4979 ;