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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 26, 1970, Lethbridge, Alberta y. May it, THI LETHMIDGI HHAIB 13 Toronto Market Makes Recovery TORONTO (CP) The To- ronto stock market edged up in light mid-morning trading today from its sharp opening loss. On index, industrials were down .65 to 144.63, golds 2.18 to 143.67, base metals to 84.34 and western oils .01 to 114.04. The industrial index was down 1.01 points to 144.27 after 10 minutes of trading. Volume by 11 a.m. was shares, up from at the same time Monday. Losses outnumbered gains 265 to 69 with 194 issues unchanged. The market posted its sharp- est drop Monday since 1963. The industrial index was down 6.09 points to 145.28. Wall Street, which fell Mon- day to its lowest level since 1962, showed a small gain this morning. The gaining sectors at the To- ronto market were industrial mining, oil refining and steel. Among advancing issues, Fal- conbridge was up 1% to 127, Homa A, to and Noranda to Alcan gained to Walker, Gooderham, to 37% and Moore to 29. LIGHT TRADE MONTREAL Montreal stock market moved lower in light trading today but losses were not as widespread as on Monday when the in- dustrial index dipped to a three-year low. Unlike Monday, some plus signs were scattered among the declines. Price changes were generally narrow although the market continued to indicate investor pessimism about the economy. fell Hi to 9 on a 220-share trade, Denison dipped 1 to 24, the Toronto Do- minioii Bank and Gulf Oil Canada to Imperial Oil was steady at 17. IOS Ltd. rallied 10 cents to 2.70 following a report that Daiwa Securities Co. of Japan was ready to take part to any consortium that might be formed to help save the finan- daily-troubled mutual-fund firm. Petrofina Canada gained 1 to Noranda to 26 and Vel- ofo Industries to On index, industrials were off .74 to 147.83, utilities .54 to 117.54, banks 3.62 to 150.26, the composite .98 to 142.70 and pa- pers .64 to 94.54. Combined volume on the Montreal and Canadian Stock Exchanges was shares at 11 a.m. compared with at the same time Mon- day. DJAUP NEW YORK (AP) The stock market moved higher early today after recovering from mild early losses. Trade was moderate. At noon the Dow Jones aver- age of 30 industrials was up 3.53 at 644.92. Earlier it had been down more than four points. Among Canadians, Walker Gooderham, Alcan and Inco each rose and Granby Mining Hog Prices EDMONTON (CP) Prices today provided by the Alberta Hog Producers Marketing Board. Edmonton: Quoted 29.55, sell- Ing 29.55, average Monday 29.83. Red Deer: Quoted 29.75, sell- ing 29.75, average Monday 29.83. Calgary: Quoted 29.75 to 30.05, selling 29.75, average Monday 30.36. Lethbridge: No sales, aver- age Monday 30.11. Lloydminster: No sales, av- erage Monday 29.54. Grande Prairie: No sales to- day or Monday. Sows 22.00. Hog sales' to 11 a.m.: 933. Hog sales Monday, Pro- vincial average 29.90. V Hudsons Bay Mining fell 1 and Canadian Pacific On the American Slock Ex- change, Scurry-Rainbow anc Canadian Marconi each fell and Brascan Ltd. was up Grain Prices Winnipeg Grain Prices WINNIPEG (CP) Liquida- tion pressure eased on rape- seed on Ihe Winnipeg Grain Exchange today as a rally pat- tern kept price levels steady a Monday's close levels. Flax had only a light trade with some crusher and export er buying. There was a fairly good vol ume of trade in barley July and October futures. Exporters domestic shippers and malt sters were buying with all of fers coming from the Canadian Wheat Board. Rye had a light trade, con fined to inter-month spreading with locals and commission houses on both sides of the market. Trading was light in oats with prices at previous close levels. Monday's export loadings o: Canadian Wheat included 75, 000 bushels to Germany and 74, 053 to Russia. Volume of trade Monday in- cluded bushels of flax of rapeseed and of rye. Prices for class two whea for export to countries outside IGA: 1 Nor 2 3 4 5 6 1 Durum 2 3 IGA prices: 1 Nor 2 1.767s; 3 4 5 6 Du- rum 2 3 High Low Close Flax May 277% 277 277 Jly 275% 274% 274% Oct 273% 272% 272% NOT 28854 Rapesced May 299V4 292 299% Jly 301% 294 SOOVi Nov 250'A 246 247% Jan 242 239 240% Oats May 75 Jly 75'A Oct 76% Dee 76% Barle'- May 109 Jly 109% Oct 110% Dec 110% Rye May 101% 101% lOlVs Jly 103% 103 103% Oct 107% 107% Dec 109% First Backslide In Mortgages WASHINGTON (AP) Inter- est rates on conventional home mortgages in the United States has dropped for the first time in 18 months, but the governmenl doesn't believe the one montt reversal is enough to be callec the start of a trend. The aver- age effective, rate on mortgages in April dropped to 8.40 per cent from 8.47 in March. It was the first backslide for the indicator since November, 1968, when rates fell to 7.21 per cent from 7.23 in October. Net Earnings By THE CANADIAN PRESS Beaver Lumber Co. Ltd., three months ended Marth 31: 1970, 7.3 cents a share; 1969, 12.4 cents. Canadian Breweries Ltd., three months ended March 31: 1970, 3.4 cents a share; 1969, 6.2 cents. Laurentidc Financial Corp. Ltd., three months ended March 31: 1970, 1! Smitty's Pancake House Franchise Available Excellent location in Marathon Development in City of Lethbridge to be open about Octo- ber, 1970. Cash required approximately Capital investment returned in ap- proximately four years. For further information please write or phono SMITTY'S PANCAKE HOUSES LTD. 709 8th Ave. S.W., CALGARY, Alberta. 263-5683 (403) Livestock Lethbridge Livestock (Supplied by Canada Departmenl of Agriculture) On offer to 11 a.m. 125 cattle. Receipts mostly slaughter steers. Cattle market active. Good and choice butcher steers meeting an improved demand prices 25 cents higher. Me- dium grades 50 to higher. No butcher heifers sold early. The few cows on offer sold at strong prices. Medium and good sleeker and feeder cattle steady to strong. Choice steers 31.25 to 21.90; good 30 to 31; medium 28 to 29.50. Good cows 22 to 23.25; me- dium 20.50 to 21.50; canners and cutters 17 to 19.50. Good bulls 26 to 27. Good stocker steer calves 35 to 37; good stock' heifer calves 32 to 34.50.. Butcher hogs sold Monday f.o.b. Lethbridge 29.75 to 30.40 base price. HOG SALES Monday sales hogs. All classes of weaner and feeder hogs met fair demand. Wean- er's sold steady to strong. Light feeders under 100 Ibs. 1 to 2 dollars per head lower. Heavy feeders over 100 Ibs. about steady to or more lower. Weaners 16.50 to 23.25; light feeders under 100 Ibs. 23.50 to 18; Heavy feeders 100 to 130 Ibs. 28.25 to 33; Heavy feeders over 130 Ibs. 33.50 to 35. All prices per head. Light feeders under 100 Ibs. sold from 31 to 40 per hundredweight. Heavy feeders over 100 Ibs. 22 to 28 per hun- dredweight. Heavy feeders over 100 Ibs. 22 to 28 per hun- dredweight. Bred sows and gilts 67.50 to 90 per head, Calgary Livestock CALGARY (CP) On offer to 11 a.m.: about 700 head, mostly slaughter cattle. Trade was active with a good local and out of the province demand. Steers sold a full 50 cents1 higher. Heifers were steady with1 heavy heifers scarce. Cows were fully steady. Bulls were unchanged. Choice steers 32 to 32.80, good 30.75 to 31.75, medium 29.25 to 30.50; choice heifers 29 to 29.50, good 28.25 to 28.75, medium 27 lo 28; good cows 23 lo 24, me' dium 21.75 to 22.75, canners and cutters 19.50 to 21; good bulls 27.50 to 29. Replacement cattle were scarce, being mostly yearling steers weighing more than 750 pounds. Good feeder steers 23 to 23.70; good feeder heifers 28 to 29.50; good feeder cows 21.50 to 25. There were no stock or slaughter calves on offer. There were no hogs f.o.b. Cal- gary to 11 a.m. Portland Livestock PORTLAND (AP) Cattle and calves 4150; slaughter cat- tle steady to 50 higher. Slaughter steers, choice 850 to Ib. 29.50 lo 31.25, good 26.25 to 29.00; slaughter heifers choice 27.25 to 29.75; good 24.50 to 27.50; slaughter cows utility 20.00 to 23.00; slaughter bulls commercial and good high dressing 30.00 to 30.75, commer- cial 26.25 to 28.00. Farm Credit Board Not The Answer EDMONTON (CP) A fed- eral provincial agricultural credit board is not the answer to farmers' difficulties, Uni- an organization of AI- herte Fanners and their asso- ciates, said here. A prepared statement quoted Paul Babey, Unifarm presi- dent, as saying high interest rales would make borrowing from a farm credit agency un- profitable, especially with Ihe small returns farmers now are receiving. DISCRIMINATION SEEN Mr. Babey said regarding the kind of credil board recom- mended by the federal govern- ment's task force on agricul- ture, that no amounl of credil structuring will correct the sit- nation unless farmers' returns are brought into line with the cost of borrowing. Mr. Babey said the task force recommendation for removal of all .agricultural subsidies is "an example of continuing dis- crimination against the food producer." other industries are protected by tariffs, import quotas or special tax conces- sions Canada has expected its agricultural industry to operate under a different set of Mr. Babey said. Potato Futures WINNIPEG (CP) The Mari- ime Potato Futures Market was inactive Monday with pric- es steady at previous close lev- els. Open High Low Close Fri. Nov 2.10B 2.10B Mar S.GOA2.60N MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Roadhouse and McCuaig) LAST BID OR SALE a.m. Buoto) a.m. Quotes) i.m. Quaint WESTERN OILS Husky Oil Husky Oil In Pro Pipe wti Inter steel Pint Jefferson Lake. Joule! Kaiser Res Kom Kotla L ont Port Cem 6.62'A MGF Man .82 Newconex 18.75 Pacific Pett Rank Org Hold Shell Inv shell In Pfd Shell Inv Wll Sicks Ranter West Cdn Seed .90 Whltepass Yule. 5.10 CALGARY 5.85 Acroll Ana Pete Barons Oil North Cont Plains Pete Wert Warner Leduc Cal Madison Qulnalta...... Rexdale PIPELINE STOCKS Alia Gas Tr A 37.00 Alta Gas Tr Alta Gas Nat 19.50 Cdn West Nat-Gas 15.00 _____....... North and Cen 10.62'A Kamloops Con North and Cen B P 22.00 Lornex Almlncx Asmera Banlf Can South Cdn Delhi Cdn Ex Gas Cdn Grlgol Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn Super Cen Del Rio Charter Chleftan Dynamic Pete French Pete Gt Plains Mill City New Cont North Cdn Oil Numac Permo....... Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain 2.90 3.05 MISCELLANEOUS INDUSTRIALS Atco Ind 7.00 Aquatalne 1.1.2.5 3rit Nlld 3.80 Cdn Brew A Pfd 31.00 Spooner Triad West Decalta 3.75 7.25 6.75 2.70 2.75 3.CO 5.95 4.80 fl.00 6.25 6.00 1.07 4.50 16.00 1.10 90 65 84 43 4.00 13.75 7.50 Northwest Fin 9.13 3.11 145 Northwest Gr 3.74 4.00 6.90 Growth Equity 4.93 5.42 Group tncomt 2.53 2.7: 4.87V1 Investors Gr 7.21 10.07 1 23 Investors MUt 4.50 5.93 Mut Ac Fund 3.91 4.30 Mut Gr Fund 3.47 3.74 Nat Resources 5.94 4.51 Prlnlclpal Gr 3.35 3.49 Prov Mut 5.40 4.1 Royfund 4.35 4.49 United Ac 3.90 4.29 VANCOUVER Anuk .............17 Arctic Mining .18 Atlas Ex .........80 Beth Copper 13.23 Block Brifhers 2.75 Brenda 7.25 Brenmac .........45 UOO l.SS 1.60 2.W 4.75 1675 11.12VS 900 21.25 21 50 7.30 400 200 14.00 B.C. 15.00 Capt Inter Churchill Cop SSW Crest For Ind 'S Croyden .17 Cdn Hydro" CarT 9'.3714 Trans Cdn Pipe Lytton Mln _. _ _.. r, Mount Wash Cdn Pac In Pfd CPR Pfd Cygnus A Cygnus B Cum Pr Gt Cdn 21 00 Trans Cdn Pipe A 51.00 8 12'A Trans Prairie Pips 11.25 Madrona 325 Westcoast Trans 16.75 New Cronln Western Pacific 3.50 New Imp Mines 8.00 MUTUAL FUNDS Okanogan Hel 3.20 A.G.N. Special 2.03 Primer Gt Cdn OH S 6-75 96.00 All Cdn Com 5.99 6.44 Silver Std. 2.50 2.40 25 Dynasty Endako 10.75 Fort Reliance .40 Futurity .38 1.50 2.50 3.60 .09 .07'A 7.40 1.40 .10 .25 .OSVi 2.00 2.40 .11 1.20 Key Indust Growers B Hy's Inter Brew Jericho Home A 10.12'A All Cdn Div 6.93 7.57 T.C. Sx Home B 12.75 All Cdn Ven 2.96 3.24 Trojan Hud Bay Co 12.50 Amer Gr Fund 4.02 4.42 West Mines Hud Bay-OH 33.50 Coll Mut 4.76 5.23 Westcoast Res Hud Bay Oil P. 47.00 Commonwealth 10.41 11.40 West Ex Hugh RUSS Pfd Corp In 4.51 4.57 Utica 3.35 .18 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) a.m. Quotes) a.m. Quotes) INDUSTRIALS Alcan Algoma Steel Atco Ind Atlan Sugar Bell Tel Brazil Trac B.C. Tel Burns B.C. Forest B.C. Sugar CAS Ind..... Cdn Brew Chcmcell Cal Cellulose Cal Power Coron Credit CWN Gas Cdn Indust Cdn Marconi Cdn Vfckers Chrysler CPR Comlnco Cons Bafh Cons Gas Dist Sea Dom Bridge Damtar Dom Texlile Dom STores Dome 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- T.ob Int Nickel Int Pipe Inv Gp A Int Utilities Indust Accept Laruentide Kelly Doug A Loeb Loblaw A Metro Stores Massey Ferg McMillan Bloe Moore Corp Molson's A Molson's B North, Cent 8.75 Pemblna Pp Power Corp 11.50 Price Co 7.00 Rothamns 5.50 Shell CDA 38.75 Simpson's Simp Sears 56.00 Steel or can 7.25 Selkirk A Texaco Traders Gp A Trans Mtn Pp Trans can Pp Union Gas Union Oil Versatile Mfg Westeel..... Union Car Western's B Woodward's A West Cdn Sd Zenilh Elec BANKS Can Imperial Montreal Nova Scotia Royal...... 12.50 Tor-Dom 13.00 MINES 9.75 Acme1 Advocate Asb. 37.00 Akaitcho 8.00 Area Mines Belcher Iron Black Bay Bralorne Broulan..... Bethlehem Brunswick Canada Tung. Cassiar 25.00 15.25 3.50 6.75 500 21.00 .85 10.50 9.00 2.65 6.75 21.00 53.00 22.00 75.50 73.00 41.00 42.00 3.00 45.50 20.00 H.2S 1.75 14.50 37.75 25.25 11.75 29.00 2.80 B.50 12.25 central Pat. 72.50 37.25 18.50 6.25 27.00 11.00 3.35 6.00 4.25 6.00 16.00 n.oo Chlr Conwest Cons. Rambler Coin Lake Cochenour Craigmont Dickenson Mine Denison Mines Deer Horn D'Eldona Dome Mines Donalda 26.62'A niscovery 29.35 East Malartic 12.50 East Sullivan 12.50 Fa I con bridge Frofaex....... 17.50 First 6.25 Giant Y.K..... Gortdrum 15.25 Gunnar Granduc..... 15.00 Headway R.L. 24.00 HoIIInger..... Hud. 'Bay M-S 6.00 Hydra Ex...... 19.00 Highland Bell 7.75 Iron Bay..... 14.00 Iso.......... Jollet Quebec Kerr Addlson Key Anacon Labrador Lake Shore Leitch....... 18.75 Langis Silver 15 00 Macassa 1.90 Madsen R.L. 1.60 Malartic G.F. Martin McNeely Maybrun..... 13.50 Maclntyra' 16.50 Meta...... Mtdrim 17.25 Inter Mogul New Alnona New Calumet 1.60 New Imperial .43 Noranda..... I.eo Northgate .40 Opemiska .07 Osisko....... 1.25 Patino....... Pine Point 13.50 Placer Dev. 5.10 P.C. Exp..... Quebec Man Rayrocx Radiore.......... Rio Algom Roman Corp. Silverflelds Sherritt Gordon .42 Silver Miller 10.50 Steep Rock 1.45 Siscoe Tek Corp..... .07 Texmont..... .63 Upper Canada Western Mines Wright Har. WHIroy....... Windfall Yellowknlfe Br. Zenmgc..... 1.95 1.10 7.25 .80 .14 50.00 .24 1.30 1.10 5.35 126.00 .14 1.10 7.75 2.50 .91 10.50 27.35 20.25 3.00 2.45 1.35 .23 10.25 .38 27.50 3.00 3.30 1.35 1.03 .85 .12'A .27 8.00 .14 .22 1.92 10.3716 12.50 .30 24.00 36.50 22.00 .54 17'A l.Ofi 15.12Vi 5.75 1.90 .05 3.10 I.EO 5.25 1.34 3.65 1.60 1.46 .14 3.35 .11 NEW YORK STOCKS Supplied by Richardson Securities of Canada Amr T and T Montgomery Ward 38.25 20 Golds 144.64 off 1.21 Anaconda .......2U7U Stirs............. 52.12Vjlo Base Mets 84.47 off 1.37 Bth Stee] Std Oil of N.J. 51.75 15 West Oils 112.89 off 1.16 Chrysler Texas Gulf 114.62'AVolume Comsat 26.37V! Texas Co.......25.25 NEW YORK AVERAGES Duponl 101.25 Woolworln 26.00 30 Industrials 640.41 off .75 Gen Motors 61.12V, VVestinghouss Elec 54.75 20 Rails 134.14 up .27 Gulf U.S. Steel .....31.25 IS Utilities 98.51 off 22 Int Harvester 23.75 TORONTO AVERASES 65 Stocks 211.73 off 12 Kenn Copper 20 Induslrlals 144.13 off 1.55Volume Aboard 3.S. Fear Must Be Conquered Is Unlocked By JOHN MIKA Special to Herald ABOARD S. S. MANHAT- TAN After all the expense, the technological expertise and data-gathering research it still boils down to man conquering fear before he unlocks the door to the unknown. And the Manhattan, which has turned around to head home from her second voyage of discovery, has aboard Ihe combination of daring and data for unlocking the frigid doors to ths vast northern treasure house. Parts of the combination were found in an old and oft- used drawer labelled Newton's Second Law. And another part was found in the courage of skilled semanship which could bring the command to paraphrase 'damn the icebergs, full speed ahead' because beyond Ihe fearsome mountains of ice could be spotted telltale greenish cracks and tiny patches of blue water. Together, this combination has done more than prove that oil can be shipped through the frozen ocean. It could be as important to the development of the whole Arctic as the trans- continental railway was to the south. Spinning off the same com- bination, with only minor va- riations in the sequences ac- cording to locality are these other possibilities cited, for others, by excited northerners. Al Pond Inlet on the north- east coast to Baffin Island where Manhattan came within almost a score miles last week, Ihe vision arises of a year- round dock nearby for loading huge iron ore carriers. Only 60 miles inland, Baffin- land Iron Mines Ltd. has the biggest high-grade iron dis- covery in the world with drill- ing t e s t s indicating 127.7 mil- lion tons of ore averaging al- most 70 per cent a mountain of iron pure enough to strip and ship direct, with- out leaving piles of tailings as a mixed blessing with the jobs, railway and new townsite it means for Eskimo and whites alike. The Manhattan's side trip to this vicinity proving that sea lift was possible outside of the six-week ice-free period .is a vital step towards a proposed million investment before the iron gets to market. The Eskimo community of Arctic Bay, more than 450 miles north of the Arctic Circle could be the first to benefit in the eastern Arctic from Man- hattan's feasibility studies. Texas Gulf Sulphur, which owns a property in nearby Sirathcona Sound proven at 12 million tons could produce up to tons of concentrates annually, mostly h i g h-grade zinc but some lead and silver to. If the company goes ahead, with the help of ice-breaking ore carriers, it is expected to provide jobs for up to 70 Arctic Bay Eskimos. The optimistic talk Is that It will go into pro- duction in two years as the first working mine in the east- ern Arctic. There's eager speculation in Frobisher Bay too bustling distribution and administrative centre of complete with a busy jetport and a high-rise complex of apartment-hotel, of- fice and commercial slralfigically located between the entrance gates to the Northwest Passage and Hud- son Bay. Turning Hudson Bay into a year-round shipping route to the geographical heartland of Canada now is within the realm of possibility. Lloyd's of London's refusal to provide insurance for ships en- tering Hudson Strait between October and July already ignored by small Russian freighters with ice-breaking ca- pabilities which sail to Church- ill up to December may fall by Ihe wayside. The Manhattan which is being considered for the U.S. grain run to India and Paki- stan herself has left visions in her wake of massive wheat carriers and ore ships some- day loading at Churchill and punching through the winter ice to open water inside of 10 days. Besides shipping cargoes oul, Ihe huge ice-breaking ships might bring supplies to Can- ada's north in the future. Each summer for the past decade, the Canadian Coast Guard has landed about tons of supplies for government installations along the Arctic coastlines and has had to em- ploy a fleet of almost 30 of its own and chartered ships to do it. A single super-ship could de- liver twice the quantity in a month-long voyage at any time of the and much more than Chat amount will be need- ed soon to meet the supply de- mands of a resources boom that is rapidly gathering way. And, if year-round super- tankers become important to Egg, Poultry Market Report EDMONTON (CP) Weekly egg and poultry report issued by the Alberta department of agriculture. large' 33; A medium 30; A small 18 to 19; B 16; C 12; Cracks 13. To large 44 to 45; A medium 41 to 42; A small 29 to 33; B 30 to 31; C28 to 29; Cracks 28 to 29. (three cents extra in To consumers (in cartons) A large 46 to 39; A medium 43 to 47; A small 33 to 41. Poultry To producers live No. 1 20. 12, 12 to 18, over 18. 26. Live No. 2 chicken broilers, Turk- eys under 12, 12 to 18, over 18, 24. Alaska's north slope o 11 devel- opment, then they also will vital to Canada's Arctic oil fu- ture which, potentially, is much richer. The Canadian Petroleum As- sociation recently took all estimates of oil companies ex- ploring in Canada and com- puted an ultimate oil potential totalling 120 billion barrels for all the sedimentary areas in the country and oh fa conti- nental shelves. About 50 billion barrels, just over 40 per cent of total Ca- nadian potential lies in the Arctic Archipelago and the Mackenzie Delta. That's al- most double the estimated po- tential of Alberta, Saskatch- ewan and Manitoba put togeth- er. "Between the Leduc discov- ery in 1947 and 1969, the oil in- dustry spent some billion on exploration in Canada, in- cluding only about million in the points out Harry Woodward, chief of the mineral section in the Northern Econ- omic Development Branch in Ottawa. "By those figures, we can expect that the oil industry will spend to billion north of the Arctic circle in the decade or two to realize the po- tential that is there." Japan Plans Probe On Coking Coal TOKYO (AP) Japan over- seas Coking.Coal Development Co. said today it plans to inves- tigate the possibility of develop- ing coking coal resources in Canada amd Australia. The investigations will cover certain areas in Alberta and certain regions in New South Wales and Queensland prov- inces of Australia. The company said it hopes tt will be able to develop new coal resources in Canada and Aus- tralia capable of supplying Japan with tons of cok- ing coal a year. Canada and Australia already are substamtial suppliers of cok- ing coal to the Japanese steel industry. In Alberta, Mclntyre Porcu- pine Mines Ltd. has a contract to deliver tons of coal to Japan starting Aug. 1. The 50-year contract is esti- mated to be worth at current prices although the contract contains a price-escal- ation clause. Mclntyre's operation Is at Grande air miles northwest of it has leased acres con- taining a low-volatile coking coal. The company mines coal for shipment to Japan where it is converted into coke. WINNIPEG (CP) The Win- nipeg Beef Futures Market was quiet Monday with some smal trade in the July future at pre- vious close levels. Open High Low Close Fri Jly 31.15 31.15 31.15A Sep 29.30 29.30 29.25 29.25 29.50B Nov 29.00 29.00 29.00N College Mercury Appointment STEVE DAKU Mr. Glen Richardson, General Salej Manager of College Mercury is pleased lo announce the appoint- ment of Mr. Sfeve Daku as sales representative. Steve is man and has over 12 years in the Auto- motive field. He welcomes ail his many friends and customers to drop into Col- leg Mercury and sea him For your auto needs. ;