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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 30, 1972, Lethbridge, Alberta 22 THE 1E7H3BIDOE HERAID _ TuMclny, Mny .10, 1972 Foreign-takeover bill spurs barbs c OTTAWA (CPi Tlit-rc moderate view of tlic bill plenty of parlismisliip, Inn tow, wn-. left Adricn I.mnbcrl clear'parly stainls i" UK firrt I (SC-MleclhWd J ivriu (.'mlorscd day of L'ommnix debute .Mini- j 11 as ;ni arecplaMc lirsl M'j day on forcipi-iake-Mu> lakcu without frav nf a for Canadian participation; 11'cpln cited comments made will' cslab- last winter by Opposition Yisheil national" policies for a i Leader Stanfiold, who warned over legislation. Few spi'alii'rs 'bo chance 'o wlKK-U al piT-siuned contradictions in views. Ti-ade MiniskT lYpin even undertook in summarize opposition rrilicisms nl ihc leg- islation since it was introduced .May 4 and then tn belabor the contraclirlions. The Conservatives left open the question of how they would vote on second reading after general debate and before the bill is sent on for detailed coni- inJtlee study. A motion presented by Con- servative lead-off speaker Gor- don F a i r v c u I h e r f Fundy which would have ki- lled the bill, was niled out of order. Mr. Fairwc-athor con- demned the legislation as token- Ism but did not commit the New Democrat Leader David Lewis was unequivocal in his opposition to the bill-so much so that Gordon Blair (L-Grcnville- Carleton) felt free to question reports of a split between the NDP leadership and the party's left-wing Waffle caucus. lions of narrow-minded nation- alism. The end icsult of a two year iiuvcTiunent Mudy- would pive die cabinet pnwcr lo withhold approval from lake- WCT.S of rannilinn-ovraed enter- prises by foreign investors. The- review function would be held by the irade minister and Mr, Tepin made clear, as he opened debate-, thai (hi1 bill is not intended to increase Cana- dian participation in the econ- omy. There arc other policies Jor'lJial. The takeover bill Is concerned wilh ensuring that foreign pur- chases of Canadian-owned com- panies will benefit the Canadian economy significantly. LISTS CONDITIONS Mr. Pcpin said the bill lists five headings under which a Inkonvrr micht be considered beneficial: production, espe- cially if the enterprise might otherwise fail; productivity: In the cli- mate of competition in Canada; mprovement oppcrUmi tics lo i specific industry, then that a foreign-ownership In defending the bill, Mr. policy must not cut off invcsl- mcnt in provinces filill in need i of capital. coming about June 12 OTTAWA (CP) The gross national product of tolal value of all goods and services Hie first quarter of 1972 will be an- nounced about June 12, Statis- tics Canada reported Monday. Tlie statistics bureau said [he GNP, which normally would have been issued this week, has been delayed lo allow the bu- reau to complete revision of his- torical data in accordance with more detailed Information now available. During the final three months of 1971, the GNP ran at an an- nual rate of billion. Apart from inflation, the real increase in the volume of goods and services produced last year was up 5.4 per cent from 1970, and Finance Minister John Turner said last week this year's growth should be even greater. "After saying that, the leader of the opposition has no speech lo Mr. Pepin said. "1 think be can hardly disagree with this bill." STAMFIELI1 ASKS QUESTION Mr. Stanfield did not enter the debate, confining himself to asking whether it won't conlb'ct with provisions in th> proposed competition hill, presented in the last session of Parliament but yet lo reappear. Literal back-benchers gave their support lo the bill but Nor- man Cafik (Ontario) added that Canadians should give further consideration to (he issue of for- eign ownership. He noted a variety of steps adopted by other countries to control foreign participation in their economies and proposed that one of Canada's main prob- lems is lhat takeovers often are financed by the host country. Some, countries insist that takeovers be financed with out- side I think we ought to move in this direction as he said. SIMPSONS-SEARS of Beau Hair Setters the perfect thing for summer after swimming, before o short notias dote, or you're pressed for time. Lady Keiimore 15 Roller Mist Haii- Setter Reg, Beautifying, moisturizing misl Is soaked luxuriously into your hair as it curls. The soft sleam helps prevent frizzles and split ends while i) gives your hair new true body and bounce in just minules. Lady Keimiore 20 Roller Mist Setter Reg. 20 Lady Keiimore Roller Electric Setter Reg. 10 .99 Etrfluly and H' ,'iful nllh nl of 20 rollr innl qrrot new Sprcinl ConHi- you Iht: nnrj mosl Oualily flosl.s More nl Simpsons-Scars STORE HOURS Open Doily 9 a.m In p.m., Thursday and Friday 9 a.m. to 9 p.m. Centra Village. Telephone. 320-9231. Trend is mixed at mid-morning TORONTO (CP) Industrial Issues on the Toronto stock market dipped fractionally lower for Ihe third consecutive session while prices in other sectors moved higher in moder- ate mid-morning trading today. Dome Felc was up !ik to Shaw Pipe to 514, Slater KLecl to Placer M to Peacock accused by Dixon By GREG McINTYRE Legislative Bureau EDMONTON Art Dixon (SC C a 1 g a r y-Millicai) ac- cused Industry Minister Fred Peacock Monday with under- mining business confidence with a recent remark that the relation ship between business and government is "lousy." Mr. Dixon asked Mr. Peacock what, he meant by telling a meeting ol pulp and paper ex- ecutives in Jasper (hat "Alber- ta business doesn't enjoy a to- tally positive reputation with the legislature." Mr, Peacock said what he meant was that iu Canada gen- erally there is misunderstand- ing between government nnd the private seclor. Asked what na plans to pre- vent any further deterioration in the relationship, the minister said the Alberta government is reorganizing departments, help- ing to set up economic advi- s o r y councils in seven regions in the province and offering as- sistance to industry through a new million industrial in- centives fund. In other matters, committee study of 27 bills was completed i Monday as the Alberta legisla- ture accelerated toward a sum- i mer -recess adjournment of what already is the longest ses- sion on record. Government sources were an- ticipating a next-week summer break for the 75 members, who have toiled at the legislative task for 59 days and 32 nights. The previous records were 50 days in 1969 and 25 nights in 1970. The majority of the bills han- dled Monday, from the Bever- age Containers Act lo the Cor- i oners Act, were of a relatively minor nature and now are ready for tliird reading and royal assent. Pan Ocean to and Numac IH to Allrerla Gas Trunk rose 3i to Tara Vs to ?17, Sherritt 'i to SlC'i, Cuminco lo and Canadian Superior Oil to ?42'.i. B. C. Telephone dropped 1 to SGO'-i, Home Oil A ;'B to 532, United Canso in cents to S5.73, Canadian Imperial Dank U to S2C'.H and Texas Gulf Inc. ya to ?173.i MONTREAL (CP) Prices dipped in light trading on the Montreal stock market today. Banks led (he rclrcal, drop- ping .85 to 25G.BD as industrials eased .03 to utilities .29 to 159.94, papers .41 to and the composite .17 lo 210.05. Mercantile Bank lost to 519'.'s, Bank of Montreal to and Bell Canada J.i lo On the Canadian Slock Ex- change, St. Lucie Exploration gained 10 cents to on a volume of shares. SOME STRENGTH NEW YORK (AP) Stock market prices edged ahead today as the Dow Jones blue- chip indicator moved closer to what could be the highest close in nearly 3V2 years. Nocn prices on the New York Stock Exchange included Na- tional Cash Register, off i at Control Data, up I5i at 5715s; Litton Industries, up at and Chase Manhatlan, up al Among Canadians, Dome Mines was up T's at S747f. Ahead "1 were Genslar Lid. at S16 and Canadian Pacific at SIGis. On the American Stock Ex- change, Brascan Ltd. was up 14 al S22Ji. Asamera Oil was oti 5i at Livestock Lefhbridge Livestock There were no cattle sales Monday due to the weekly sale of vreaner and feeder hogs. Sales 891 hogs. All classes ol weaner hogs met keen demand at higher prices. Feeder hogs sold fully steady. Wcaners 12.25-21.75 per head; light feeders under 100 Ibs. 20.75 27.75; heavy feeders Ibs. 27-34 per head; heavy feeders over 130 Ibs. 3G.50-4i.50 per head. Light feeders under 100 Ibs. sold from 30-37 per cwt.; heavy feeders over 103 Ibs. 21-27 per cut. Bred sows and gills 65-74 per head. Rut- cher hogs sold .Monday at the Lelhbridge yards base price. Calgary livestock CALGARY (CP) Receipts on the Calgary livestock mar- ket In n a.m. included 1.200 head; moslly slaughter cattle. Trade was active. Slaughter steers worn 25 ccnLs higher at 38, one of the highest prices ever obtained al. the Calgary market. Slaughter steers were moslly lighter kinds selling 50 cents higher. All grades of slaughter cows were 50 cents higher; a few huJhs were sleady. Choice slaughter sleors sold 37 lo ,1ft, norxl ,1G lo 37, me- dium 33.50 lo 3fi. Choice heifers ,T4 lo 3-1.90, pood 33 lo 3-1, medium 30 lo 33. cows to 211. with lioifcry kinds higher; medium 25.50 lo cnnncrs and cut- ters 20 lo Itrplncement. cattle were, scarce wilh heavy feeder slf-crs, more pounds, selling from 35 lo 37. Good feed- er heifers 32 to 34. No hog market was establish- ed. Grain prices Winnipeg Grain WINNIPEG (CP) All oil- seed futures were lower on dull trading at mid-session on the Winnipeg Grain Exchange to- day. Flax prices were fractional to 4 cents below previous close levels. There was only a small vol- ume of trade and a lack of in- terest by sellers despite a two- bushel increase in the quota. Rapesecd was nearly three cents lower. Prices opened low- er, following the Chicago soy- bean market, and futures re- ceived only limited commercial support on the declines. Oats and barley were un- changed on light activity. Kye was sleady wilh no trade al- though the quota has been in- creased to 25 bushels. Monday's volume of trade was bushels of flax, 000 of rye and of rape- seed. MID-SESSION Flax: May '.'s lower J.Tl'.JB; July n'i lower Oct lower 2.743i; Nov. lower Dec. Fs lower 2.71'aA. Hapcseed Vancouver: June lower 2.487'sB; Sep. low- er Nov. lower Jan lower 2.48A. Rapeseed Thunder Eay: Slay Mi lower 2.41'.'iA; July low- cr 2.42; Ocl 2r'h lower i Nov. 1 lower 2. 45 A; Dec. 'i 100-130 j lower Oats: May unchanged July unchanged G9ViA; Oct. un- changed 70A, Dec not open. Barley: May unchanged 1.09'JA; July unchanged 1.09 ?'iA; Oct. not open Rye: May not open; July i-s lower 1.02bE: Oct. unchanged Dec. not open. WINNIPEG (CP) Grain quolcs Monday (basis Lake- IliRll Flax May Low Close 2723 271''L 274'.( Oct 270C 27fi'2 Xov Dec. Ilapcsrrcl Vancouver Jim Scp 251'i N'ov Jan 251 2Wz 251% 252 2517', Itfipn.snni Tliundrr Hay Mny 2-13 2-13 Jly MJ'i OCl Nnv _- 2-10 Dec Onls Mny BOVi .Tly liflii rid 70 Dec _ llnrlpy Mny lM3i Jly inn''i Orl _ _ live. Jl.iy ins'-s 102'? ]02-'i Ort Dec 102 Greenhouse firm acquired by Veiner By JIM MAYBIE Herald Staff Writer Tliii largest greenhouse op- cralion in Western Canada has born purchased hy Mnynr Harry Vciner of Medicine Hal The Herald has learned. Mr. Veiiicr confirmed this morning his purchase of Med- icine Hat. Greenhouses Ltd. from Neil German of Calgary, a corporation lawyer and cur- rent president of the Canadian Chamber of Commerce and from Mr. German's former wife, Mrs. Katie Cummings, The business, in operation for DO years, was purchased a week ago Tor an undisclosed amount. "It would cost about ?2 mil- lion (o build a similar opera- tion Mr. Veiner said. The operation covers 10 acres of land, most of which is under glass. Ortii-n jtioi, j> coj' Wci'c QiJGLli. Product was shipped as far as Vancouver on the west and Winnipeg and Fort William on the east. T h o greenhouse employs 72 persons in Medicine Hat. The head office will be moved from Calgary to Medicine Hat, Mr. Veiner said, bringing three more employees lo the city. Annual payroll for the green- house staff runs lo about 000. "While the business is no gold mine, il is making a small prof- Mr. Veiner said. "I bought it because it's a Mr. Veiner is involved in sev- eral businesses including a hardware store, china, potter- ies, Irailer camp, apartments, investments and farms as far away as Vancouver. The greenhouse is located at 4Ih St. and Woodman Ave. S.E., in Medicine Hat on the south side oE the river near the Lien's Park. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Dolicrly, McCuaig Limited) LAST BID OR SALE a.m. Quotes) WESTERN OILS Almlncx Alia East Gai Mam era Ashland DP Oil Gas Can Souln Cdn Ex Gai Cdn Homeild Cdn Ind Gas Oil Crfn Super Cdn Long II Charier Chilian Dome Peta Gl Plains Gl Cdn Oil Lochiel Norlh Cdn Oil Numac Panctin Pele Pan Ocean Pt-lrol Pinnacle Place Gai Ranger Scurry Rain Spooner Selbens 5.50 7.15 5.05 690 3.10 7.15 9.CO 41.75 .58 9 JO a.m. Quotes) Hugh Russell HusKV Oil 15.12' Husky Oil B HusKy Oil War Infer Prov Pipe Inler Steel Kaiser Res Pacific Pete Rainier Sandwcll Torerfyne West Cdn Seed While Yukcn a.m. 4.35 13.50 3.60 30 15 6.15 1.57 5.30 16.50 1-1.50 11.50 1 16 .J? .07 17.50 15.75 .06 9.85 5.65 1.37 Wesllield CALGARY Brrons Oi] Madison Norlh Cont 1M3 1.42 .16 PIPE LINE STOCKS Ulster W. West Pelc MISCELLANEOUS INDUSTRIES Aqufltaine 22.50 Brinco 6.50 Cdn Brow A Cdn Brew B Cdn Pacific Inv Cygnijs A Cygnus B Falcon Copper Gcnsfar Home A Home B Hud Bay Co Hud Bay Oil Hud Bay Pld Alia Gas A Alta Gas Pfd Alts Nat Gas Inland Nal Gaa N and C Cos N and C B Pfd Pacific Gas GoZ Metro Trans Cda Pips Trans Cda B Trans Cda Ww 57.00 71 00 30.50 74 50 12.75 13.75 5.25 Wulual Mutual At Mulunl Gr P Nat RPS N W Fin N W Gr Principal Gr Royfund Temp Gr United Ac Universal SB- Vanguard Cmnw Vent VANCOUER MINES Arion 'Alias Explcr Drcnda BrycoT Churchill Copper CrcfdEn DanVre Varden Dynasty Equiloriol Fort Relianca Gianf AAascol Lr 5.73 6 J9 5.94 6.0 5.94 6.53 7.29 7.97 3.34 5-B9 6.26 68S 5.15 5.65 6-76 7.04 7.39 7.97 561 i.I A 8.17 0.99 10.6? 11.62 7.65 6.43 T5.17W .il .iP fc.10 .33 .75 .09 .iS Primer mid er Sfendard WC Irani 9.4Q 31.1JV2 31 50 76.50 5.40 5.75 13.50 MUTUAL FUNDS All Cdn Com B 7B 9.M Al Cdn Divid 9-68 10.58 All Ccfn Vfinl 4.20 n.6% Amr Gr F 1 13 7 94 AGF Special 3.6S Cdr Invesl P 5.12 5.62 Col Mulual 7-OS 7.72 Cmnw Inlcr 1613 Cmnw Lev 2.79 d.33 Ccrp Invest 6.2S 6.S3 Corp In SI F J Dreyfus F U.S. 13.72 15.0.1 Valley Coppw WC Res 4.60 9.25 10.50 .35 1.32 .35 ?.50 .05 INDUSTRIALS lock Bros 3.60 B.C. Sugar 21.35 B.C Sugar Pfd 17.50 Capl Inter 5.75 Creslbrook F Ind HVS Columbia Key Indus! Pacific West Air 21.75 Stampede Intl Res 3. BO 3.25 3.50 Invesl Gr F 7R7 763 B4Z Oil Plain? Pets West Cxp1or Toronto industrials (Snppllcd By Illchardson Securities of Canada) LAST BID OR SALE a.m. MINES Acme Advocate Asb. 1.; Akailcho Ksrl jate Brunswick Canpda Tung. Cassiar Central Pal. Cnimo Cons. Ra.-nbler Coin Lake Aldona .27 20 50 J.30 1.5J 1600 1.60 Norlex Osisko Pine Point P.'ccer Dov. P.C. Exp. Man Rayrock RarJIore Rio Algom 19.50 7.95 Dome Pclo Ccfnsco Ford cf Am Gu" Oil Cda Hawker Sid Huron R, Erie Imp Oil 8 60 i.ns 32 00 .-15 Silver Miller Sleep RccK Tck Corp. Upper Wuslrr Minn-; Hargreavcs 1.31 1.70 i Inf Nickel Int Pipe Inv Croup A Inl Ulil Ind Acrepl Krlly Doug A Loch i Lot lav? A Wei Stores i MflEiey Ferg JOltSJ 31.50 65.00 30.25 35.25 22.00 33.75 3000 950 48.75 1975 7.25 7.50 15 EasJ Malarfic Fast Sullivan Tolconbririge Frotex First Marilimcs Giant Y.K. Bovis Granduc Headway R.L. Hudson Hay M-5 Hydra Ex. Iron Bay ISO Jolict Quebec Kcrr Addison Key Anacon Labrador Lake snore Silver R.L. Mnlarljc G.F. Martin McNcely 7.55 7 75 75.50 .25', .E3 9.CD AWlibi Algpma Sleel Afco Ind Allarilic Sugar Agra Ind Bell Tel Brazil Trac EC. Tel Burns Q.C. r-orrit B.C. Sugar Bow Valley Cdn Brew Cnemcoii Co! Cell j Calqary Corn" Crpclir C W N Gas P Ccfn Ind Cdn M.irconl Cfn Vickers Chrysler C.P.R- Crmnco 9.50 21 "0 1J.35 1) CO 6.25 -13.25 22.121 a 60.50 UOO 31.75 21.CO B.03 B.50 Ma: Corp 1 rtfi 1125 Di'.t Seagram' fiiOO Doni Bridge Morons A Molsons B Norm f. Cent Power Corp i Price Co. i St. Corp Shell CDA Simpson's Simp Sear St cf Cdn '2 Selkirk A Texflro Traders Grp A Trans Mln Pp Trsns Cda Pp Union Gas Union Oil Vcrsntilc Mfg wcslcel Union Car Wtiicn's B Woodward's A WoLt Cdn Seed 3 Zemfh ricr BANKS j Can Imp Montreal Mov.i Scolia 11.35 2100 25 00 27.50 JO.OO 27.50 J1.03 53. DO 17.00 21.50 J500 1375 -S2.K1 5.fl7V, JO. 8 19.50 21.75 2.9Q 27.PO New York slocks (Supplied By Richardson Sccnrillcs ot Canada) Amr T and T Anacofidn Rein Sled Chryilur Corn vi I GM Gulf Ir.l Harvester fnpprr d2 (J7V3 Sf.-nrs im.oo 70 Golds up 20.75 Sttl Oil of N.J 10 Base A.' 99.16 up .2-1 30.00 Texfls Gulf llBM 15 W Oil-, ?23.nd up .7) 32.37'.] Co 34 03 Volume iW.7.r, Wichcs Torn YORK AVERAGES SO Wnnlworlh J'ro 3T IncluU 973 9rt up 7713V: V.'cSlincjhRUse Flee 5j 00 30 Rails, 2M3.60 off .36 3150 TORONTO AVERAGES 65 Slocks 33805 up .37 Monlnomery Ward 27.75 20 Indus! 20562 cff ..19 Volume URGENTLY REQUIRED USED CAR RECONDITIONING FOREMAN SUPERIOR MOTORS TOP WAGES TO PER HOUR you handle Iho reconditioning of used cars? you direct ihe dulics of a junior clean-up man? you experienced? If you ara, we need you immediately Phone: BILL SITTER, General Sales Mgr. Collect at 223-3537 TABER ALBERTA ;