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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 16, 1972, Lethbridge, Alberta Tursrlrw. MOM 16. 1972 THE jrtHBRIDGE HEIALO 15 Alberta econom r, Calgary, Montreal (Supplied by Uiihcrly, Mcdiais Limited) iom Stanfidd outlines Stock market up s_ ill quiet tn TORONTO (CP) Tim To- ronto stock in P. r k c L turned higher in quiet mid-morning trading after registering frac- tional losses in the early min- utes of the session. The industrial index rose .30 to 200.52 and golds 3.44 to 193.11 EDMONTON (CP) Unnn- j ploymcnt in Alberta dropped lo :'4.9 per cent of I ho labor force during "March compared will] G.G per cent in March last n generally strong economy fur the start, of 1U72. The Alberta Bureau of Kin- 'fit's reported here that (he Al- Combincd volume on Lhci'jcrla economy had 1372 Montreal and Canadian stock exchanges at II a.m. was shares, compared uit at the .same time Mon- day. On index, industrials ad- vanced .G-1 lo the coin- Base inelals dropped Lo 94.55 posiLe -15 lo banks .07 to and western oils .12 to 210.41 2G9.27 and uLiHlics .01 ini.4-1. Volume by 11 a.m. was shares, up from at the same time Monday. Food processing, pipeline, slccl and oil refining issues posted moderate gains, while paper and forest, bank and trusl and loan stocks drifted lower. Papers dropped .43 to 117.27. Rothmans gained 1 (o S21 Peoples stores I to Do strongly by maintaining y last pace of construction and showing an upturn in the num- ber of building permits issued. WESTERN OILS nine-.' S1 Aila Lail i E3P Oil s. CcJri E'A Ga'. fdn 7 Ir.d Oil (.di cat >car reported ll.B cent more than for thc com- parable period last year, v-ilh .shipments last February total- ling BUM A million. Retail sales ,ilso increased, with the total for January at PLT cent more than (he; previous January, and snhstan-, ni am oil lial increases reported in re-', lail of automobiles, wash-1 iJumec ing machines, clothes dryers i and refrigerators. report also said >V Oil Jy 0.1 -r PrDV system PIPE LINE STOCK: The bureau, in Kfl April issue Tho report ,-iLso said Ilia; of Alberta business trends, re-1 wholesale trends for Ihe first porter! an iiwrease of M per' two months this year compar- ccnt in (fie value of building cd Jasl year showed an in- pcntiit-s issued during the first i crease rjf 17 7 per cenl. quarter of 1972. Al the same time, however, The largest increase was for: the Edmonton Calgary con- residential building, followed sinner price index, a measure Cianl W. Dcrfillfl MISCELLANEOUS INDUSTRIES I, to i by commercial, institutional of thc cost of certain goods and "jaufl government holding. .vcrriccs, increased Jjy 3.2 per R n Irani f.c'n A 79.50 Trr.r.s cen War l3.-'j WC Trans Jl.lJij Tr.-ins V.ii MUTUAL FUNDS AH Cdn Con H.6D 9 -iQ Divid Cdn Ver Amr Gr .113 t 5J 7.61 i 3 -IS INDUSTRIALS Pfd Ei'eclroliome gained HoLhmans Canada Magnasonic Canada to and Consumers Distribu- ting to '2. BP Canada was up 3s to S15va, Camflo Mines 25 cents to 54.45, Sherrilt lo Dy- nasty U to and Inco Vt to Slater, Walker dropped U I o ?23 i Canada Toronto Pacific Petrc -30! 2, Border 529V. Dominion Canadian leums lost "s Chemical Textile Arena i ?15V) find Iloyal Bank '4 lo S34, Livestock Lethbridge Livestock Iceiler hogs mel. ,ere no cattle sa.cs at Star B H t Bethlehem Copper and CP Ltd. '.8 XEVV YORK fAP) Stock- market prices erlged higlier today, although brokers said the shooting of Gov. George WaJ- lace of Alabama was _ yards Monday price gains limited. "r The Jones average of 30 industrials al noon was up .03 to Among Canadian report Home A Home B Hud CQ HLTI Gey C I Hurt Bay Pfd Hurjn Hudson L! F 5.02 5 51 B C ;al 6 IB 7.55 Capl tr 1-1.57 1601 For Ir.t DV J Mj's C5' 4.10 6.67 InlL-.'icr Bre.v F 524 575 Key U S. 1J..-3 14.77 Pacific W A-r iires J.OD Slarrpede F J? 7.1 1 ral S 39 i placer Lo Dome Mines was up 1 lo issues, lo S71. Mclnlyre Porcupine was down lo S6S. MONTOEAlTTcP) Prices i On lhe American Ex' ccigert higher in light trading on f Scurry Rainbow Oil thc Montreal stock market "'as down 3j lo S16 and Brascan today. i Ltd. was up'B lo S2234. Oiina seen making pitch for better relations keen demand j prices. Wean-1 head higher. der WO Ibs due lo the weekly sale o[ wean- j or more higher. Heavy feeders er and feeder hogs. Sales 650 i Ibs S3 to 54 per head I hogs. All classes of weancr and I higher. Weaners 15 to IB.73 per head; light feeders under 100 Ibs 21 (o 28 per head; heavy feeders 100 to 130 Ibs 27 lo 34.75 per head; heavy feeders over 130 Ihs 36 to 40 "per head. Light feeders under 100 Ibs sold from 31 lo 37.50 per cwt. heavy feed- WINMPEG (CP) Nearby ers over 100 Ibs sold from 25 to 32 per cvrl; Bred sows giiis 57.50 lo 01 per head. Bulcher mines, fSnpplicd By Securities of Canada) a.pp. Quotes) LAST HID Oil S.M.E (ll-p-j Grain prices Winnipeg Grain futures conlinncd slight di dines at raid-session on the S Winnipeg Grain Exchange hogs sold "Monday at the Lelh- I loday. while deferred months j bridge yards 30.25 lo 30.35. Ex- j posted fractional gains under port hogs sold from 23.70 lo 24. i limited commission bouse buy-1 is liveu-eight. Calgary livestock CALGARY (CP) Receinls to 11 a.m. loday on the Oats and barley were un- changed in a dull trade Rye irchanged lo higher. while flax and rapcsccd were livcslock market wcre C75 heacj PEKING (Reulcr) China has appointed five new vice-for- eign ministers in a move seen here as underlining a serious j ment. effort to improve international relations. Two foreign ministry assist- a woman be lieved to be Chairman Mao Tse-lung's also been named. Diplomatic sources .said loday Ihe appointment of so many al the same lime shows how much China's role in world affairs has developed in lhe lasl year, and how big a part foreign affairs now play in lop-level thinking and policy. The new appointments were ministry and Chang was direc- tor of the ministry's Western i 888.000 bushels of flax. European and American depart- J "00 bushels of rye and jlll costs seen lower lo '.i higher. mixed grades Df Monday's volume of trade ter cattle. Trade was aclivc. Slaughter slcers sold sleady ir i t h strjcllv choice k i i) bushels of rapeseed. scarce Heifers were fuuy Mid-session prices: 'steady with younger and over- Flax: May i2 higher 2.C5 -M. finished kinds being sharply ,Imy lower 2.C6 VB. Oct. ui> Cows steady with changed 2.C9 'i.Nov. unchanged salcs to M insufficient bulls on 2.69. Dec. -a lower 2.CG offer establj5n a Rapcseed Vancouver: June I Choice steers 3Q 55 lg 2.52. Nov unchanged 2.50 -Is, Jan. '.2 higher 2.411 1-.. itapeseed Thunder Bay: May 1 Js lower 2.43 July lower Ocl. higher 2.45 ?h, Nov. U IrigllCT 2 45la. OaLs: May unchanged July not open, Ocl. uncha RED DEER (CP) Educa. I lion cosls in Alberta will con. j linue lo climb and lhe taxpay- nnnounced in" a nole lo diplo- er can expect lo pay (he bill, j Grain quotes Monday (basis malic missions here. says Eric J. Hanson, professor j The two foreign ministry as- economics al the University iiigli sistants arc Miss Wang Hai- jung, belie; cd related to Chair- man Mao. and Chang Wen-chin. of Alberta. Low Close [Choice Heifers 34.25 lo .15.10, good 33 to 34.25. medium 30 to 33. Good cows 26.50 to 27.50, medium 24.50 to 26, canners and cullers 20 to 24.50. I Replacement cattle were in He said taxpayers are going Ma to pay more by way of income i jiv Flai Before the new appointments, J tax< property and new there were two vice-foreign ministers, Chiao Kuan-hua and Han Nicn-lung. Tlie new Projections place tures on education at than SI billion by 1974-75. names arc Chung Hsi-lung, Ma Ho Ying, Fu Hao and Yu Chan. said, and at S1H to 52 billi by 19C1. He told the 2673i 2lifi 2H9's 267 Oct 27IFJ i- j Nov 260 more j llapcsrrd A'ancoin-cr m 255'.i 2C5'i 267 up ami selling cm a steady hasis. Ko slock calves were of- fered. Good feeder steers 750 pounds vip 35 to 37.40. ffogs average base price 30.30. a'I'i _ Conycrva- Lci'di-r lloherl Slanliekl oiiihucd in liic Mon- a iirv, (jf taxing Ca- Hiai would ktic-p incomt1 lor lii.x [uirposc'S in "conslanl1' I'lifk-r hi-; proposal, govern-' rnur.u aiiikl tui louder count un HI muie Irom ff.r the federal cof-1 tor-. Mr. Slanlit-'ld said dc- ba'.e o'i the govern ni e n I "s liiid.yei income would be estab- lished Injin a basu ci wlial. worth in J971. It UIR cc-i of living increased hy KJ (K'V cenl MI H fjiven yt'ur. the iimounl of a taxpayer's income .Mihjcct Lo tax would be reduced by id per cent. Tl'.u v.ould force I he CDvenirncnt lo come lo Parlia- im-iu 10 s e c k increases, rather than .sitting liack and al-, lowing inllalion "lo do its dirty v.'trk for il." IZXI'I.AINS DKTAILS Later, speaking to reportei'.s.. Mr. SUmfii'hl said his tax ideas would Klill benefit persons with higher incomers moi'e than those making S3.001) or a year. Bui a Conservative govern- ment would ''can all those de-, ducdons" Canadians currently claim and institute a system of I lax trctlils. Vnricr such a sys- tern, individuals vould be granted a certain credit atjainsl: taxes for each child, another if tliey wci'c 6.1 or other5 for similar 'J he current system of deduc- tions menus more in terms nf f.'jhh to those higher lax foracK- tls, Mr. SlunHcId said. lie said his proposed idea would cost, in terms of lost tax revenue from inflated incomes, about SJ300 million a year if in- flation conlinued lo run at ahoul five per cent. It would put government "in a squeeze" and make it operate in a "totally different atinu-- ICLKCTION I'LUDGK Me in the house he would apply Ins system of calculating future net income lor taxpayers in constant dollars if his is elected in (he next general election. Il would mean that taxpayer1: would "nol he if their income simply kepi of Ihe standard oi he added. 1965 battle Russia hurls charge ins on A.T.r T i Anflcond; Chrysler New York stocks (Supplied By Rirliardson Sccnritlps oi Cnnadi I1D.47 Hog prices Scars Oil Texas U.S TORONTO Gelds L-D 10 Base Vel ctf rt li Oils 111 79 up 73 KEW YORK AVERAGE? MUSCAT. Oman (API Bril- isli-led Omani troops have occu- pied ;j sirrics of mounlain passes lu cul olf rcliel Dliolari iribcs- racn [roin their supply bases across UIL- border ill Solid] Yemen, il povernment commu- i uique repovtetl loday. j Tlic sulian's IroojiF achieved I'ncir objective after a seven- moiilh c a in p a i B n that lias cleared hundreds of Chinese- backed rebels from larpe areas Oman's Dhofar province, the i communique said. j Omani jets, flown by British pilols. silenced rebel posilion.s from which (ire had been di- reeled at government troops at Taui Atair, tJic rommunique said Ahoul 2.0011 Dhofari rebels been figiilm.q since lo overthrow Oman's sultan. They are ranged against govern- ment troops. Omnn, an oil-producing eo-.m- Iry. i.s located on the Arabian between the Gulf of Oman and the Arabian Sea. c Elec 50.E7-: 20 Rs IS Uti AVERAGES Ai -r on i Sep Nov annual confer- jalj 251 249 Fu previously was director-1 cnce of Ihe Allwrla Teachers' j liapcsri'd Tlumdrr Bay Kcneral at Ihc foreign Greyhound earnings higher CALGARY (CP) The cam- ings of Greyhound Lines ol Canada increased to or 37 cents a share during Hie three montns ended March .11, due mainly to a non- recurring gain of from the sale of property. This compares intlr MSI or 15 cents a share the corres ponding period. Gross uore (128 compared vilh affairs l adminislralion Uiat there mil'. Mav lie more centralization in thc Jlv" tuture and school boards will have less local autonomy. in DIK IN CRASH Oct Nov Oats May .IK- MANILA (Reuler) Al Icasl Ocl 10 persons died in a train-bus Rye collision in Angeles Cily GO. Mav miles norlh of Ihis Pliilippines Jlv' I capital i Oct 2-1-1 34-1 mm.i 102 101'j 245 245 'i 101U EDMONTTOX (CP) 'age prices to 11 a.m. provided hy the Alberla Hog Producers Marketing Board. 'Edmonton: 30.10, average Mon- day 30.22. j Red Deer: 30.10. average Mon- iday 30.23. Calgary. 30.20, average Mon- day 30.25. j Ixilhbridge; Nil. average Mon-i Turner told the Commons day 30.20. i Normally, the student loan Mr. Turner "said in reply to n repayment musl begin six qucslion by Opposition Uador LSL CARS Robert SLiinficIu (hat the gov- About M per cent of Austral monlhs attcr lhc Md ot Ulc M- ernment will consider exleiul- I ians ti'avel to work by car. ei-, ademic Icrm for which they inf, inlerest-frce period for thcr as drivers or passengers. were issued. Tlie federal gov- i unemployed borrowers. Sludeiil loans deal announced OTTAWA (CP1 is- ernment pays the interest on suing Canada student loans the guaranteed loans until thai have agreed lo give unemploy-; lime. cd six moriths' grace Defaulted loans are returned before reporting Ihe loans in by lhe hanks lo Ihe finance' de I default, Finance Minister Jolui parlmcnl, which then assumcf collection responsibilities Red futures WINNIPEG 'CP1 Live beef ftilures close Monday. May 37.25A; Jly 3B.25; Sep 34.25B. Monday's volume: No con- UNITED NATIONS (AD The Soviet Union told United Nations Security Council today the United States claim lhal it mined North Vietnamese harbors in the right of solj-de- fence is groundless. "The facts, wliich are knomi lo the whole world, show that no aggression has been committed against Die United Am- bassador Jacob Malik wrote lo the Council. "On the contrary, the IVI