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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 7, 1972, Lethbridge, Alberta Market in F on ke in to id-ar-.65 97 to to me oc-ict ile oil is-of is-to 30, Vt, to to 13, nd to 95, 70 to 15 ck to d-in a! mm trices up trade Montreal and Canadian stock exchanges at 11 a.m. was shares, compared with at the same time Monday. Banks advanced 1.55 to 266.54, utilities .81 to 155.75 and papers .03 to 91.77 while industrials dropped .59 to 228.51 and the composite .09 to 218.51. On the Montreal Stock Exchange, Falconbridge Nickel change, Falconbridge Nickel dropped to and Ashland Oil lo while Francana Oil and Gas rose lo On Ihe Canadian Slock Exchange, Alliance Building Corp, was up lo on shares Lraded. Markets closed NEW YORK (AP) All securilies and commodities markets are closed in Ihe U.S. today because of the min (Supplied By Richards LAST BI a.m. a. MINES Northgale Acme .32 Norlex Advpcife Asb. 1.36 Oslsko Akallcho -SO Pine Point Bralorne 3-05 Placer Dev Broulan -28 P-C. Exp. Bethlehem Ouebec Ma Brunswick 375 Rayrock Can. N.W. Land 6.00 Radlore Canada Tung. MS Rio Algom Cassiar 13.00 Roman industrials on SccarlllcB of Canada) 1 OR SALE m. tfuores) (ii-oo a.m. Quottil 4.BD Dome Pels 38.75 .30 Dolasco 27.75 23 Cable 19.00 25-.QO Ford of Am 71-75 3fi.OO Grt Cdn Oil B.20 2.7S Gen Motors 78.00 Grt Lakes Pr 16-00 7." Gulf Cdd 3d. 00 .3) Greyhound 22.00 Hawker Sid 3.70 p. Hur B. Erie 31.75 rdon HJram WaJKer so.12% r Imp Oil -12.25 1.73 Imasca 27.50 Nickel 32.CQ .35 Inl Pipe da 2.70 Inv Gru A IO.E7V4 nes 250 Int UNI 23.00 rgrcaves ,90 ind Accept l.JS Laurenlide 13.75 .70 Lceb 4.W Bear 3.60 Loblaw A .09 Met Stores- 20.00 TRIALS Massey Ferg. 17.37% 9.50 McMillan Bios 21. OQ Moore Corp 49.50 el 12.75 Molsons A 11. SO Molsons B 23.00 ar Norlli E, Cent 72.SO Power Corp 12.75 43.37VJ price Co. 20.W Rolhmans 1B-25 57.50 SI. Corp 19.75 18.75 Shell CDA W.2S 20.00 Simpson's 29.25 Simp Sears 39.50 d 36.50 sieel of Cda 32-50 Selkirk A 12.75 5.75 Texaco 5-f.GO 3.50 Traders Grp A 20.75 .73 Trans Mtn Pipe 22.75 Trans Cda Pips -16.51) r J.ii Union Gss 12-DO Pfd ll.lZVi Union Oil 50.00 16.00 Versatile Mlg nl -1.75 Wealeel 23.00 10.50 Union Car 16.50 34.12% Wcslon'sB 17.75 A 26.75 West Cdn Seed (5.00 14.50 Zenilh Elec 3.10 Id. 75 BANKS ms 37.75 Cdn Imp 27.75 30.75 Montreal 20.75 I'ava Scotia 36.75 B.50 Royal 35.00 14.50 Tor-Dom is quotations Igary, Montreal y. McCuaig Limited) OB SALE TI. a.m. Quotes) 7J.50 Inves Growth F 12.24 13.39 44.00 Inves Mutual 5.B3 6.3S War 4.90 Mutual Accurn 6.06 6.66 Pipe 12 67'A Mullial Gr F 4.77 5.25 Sleel 15.00 Nat Res 7.43 8.12 220 N.W. Cdn i.3S 5.88 31 '50 N.W. Growlh 595 654 qe 300 Principal Gr 4.96 5.45 I 4l'7S ROVlUnU 6.B6 7.14 3'70 Tmplln Orowlh S.BD 8.B3 ,'BO United Accum 5.64 6.20 sod 600 Univer Svgs 7.95 8.77 n 12 MIA Vanguard 8.72 9.56 n Unlvesl 6.05 6.65 VANCOUVER ;ARY MINES Alias Explor .47 Balhursl .7] Brenda 3.60 E STOCKS croydcn 15-OD Davenpcrl .33 ref 69.00 Dankce 64 s Dally Varden .26 Gas 1 .'5 Dynasly 8-25 IIITO Equllorlal 15'A Pfd 35.37V3 Fort Reliance .35 4.95 Gianl Mascot 5.iO A 70.00 Graisle 5.70 Pips 46.J5 Lorncx 6J5 B 40.25 Lytlon Minerals 1.95 A 86.50 Primer -09 War Pyramid .26 23.50 Silver std .70 WIs 5.25 Toxmonl .35 FUNDS Valley Cop 7.75 4.84 5.29 INDUSTRIAL ipd a. 42 9.30 Block Bros 2.80 9.21 10.07 B.C. Sugar 4.27 4.67 B.C. Sugar Pld 14.75 F 6.55 7.19 Capl Infer 3.70 3.40 Columbia Brew 3.30 F 514 5.64 Crstbrk Fcr Ind 3.20 7.10 7. GO Hys 3.40 r 14. 7i IS 2! Key Indus .JJ 4.10 4.51 Pac Wesl Air 37.75 8.07 8B7Slmpd Inl'l Res .63 612 6.69 OILS US 13.21 14. 4B Albany Oil -73 4.24 4.66 Plains Pele .30V3 ty 8.37 9.1? Wesl Explcr crop in West Pele 10.00 wc Trans MISCELLANEOUS wc Trans INDUSTRIES MUTUAL Aqullaine 25.75 Gl Pac Brinco All Cdn Cn Cdn Brew A 28.00 All Cdn Dk Cdn Brew B 35.00 All Cdn Ver Cdn Pacillc Inv 22.87V] Amrn Gwlh Crowsnesl Ind 25.12'A A.G.F. Spe Cygnus B 7.00 Cdn Inves Falcon Copper 11'25 Cell Mutua Genstar 15.00 Inl Home A 38.12Vj Cmwllh Lev Home B 3.00 Cmwllh Ven Hud Bay Co 17.12Va Corp Inves Hud Bay OJI 48.25 Cor Inv 5 F Hud Bay Pld 57.00 Grpd Inc 5 Hugh Russell J8-00 Growlh the Toronto stock mar climbed moderately higher active mid-morning trading day. The industrial index, cons ered a major indicator of m ket trend, was up .38 to 208 and base metals .22 to 83 Golds, however, were off .06 179.85 and western oils 2.00 252.18. Volume by 11 a.m. was 9 000 shares compared with 1 million traded by the sa time Monday. Real estate, utility, food pr cssing and bank stocks w among sectors of the mar recording the best gains wr beverage, communication, refining and trust and loan sues were off slightly. Advances were well ahead declines, 132 lo 90, while 203 sues remained unchanged. Bell Canada was up Reader's Digest to Sklar Manufacturing lo 5f Canadian Imperial Bank and BP Canada to Bow Valley fell 2 to Falconbridge Nickel 2% Agra Industries to 5 Imperial Oil !4 to a MacLean-Hunter Cable 'A Lytton rose 20 cents to Copperfields 10 cents lo and Teck Corp. A 15 cents Roman Corp. dropped cents to and Brunswi Mining and Smelling 15 cents LIGHT TRADE MONTREAL (CP) vances outnumbered declines light trading on the Monln stock market today. Combined volume on Nov. price to Imperial Tobacco markets about 15 brands of cigarettes. There was no indication of any immediate price increase from other cigarette companies. TAKING LONG LOOK Pat Ferguson, vice-president for marketing at Macdonald Tobacco Inc., said it is "taking a long, hard look at the situation" but no increase is planned "at the present time." The two cents is expected to be added by retailers in each province, where prices for packages of cigarettes vary with provincial taxes. Imperial priw. increase followed recent completion of a new labor contract retroactive to July. The company also said it was certain to pay higher costs for leaf tobacco because of the short 1972 tobacco crop which was hit by a spring frost. Tobacco lor roll-your-own cigarettes is not being adjusted "because users of this type of tobacco are generally in hiked low-or fixed-income brackets and even a slight price increase could be a great hardship to these the company said. The last price increase by Imperial was January, MONTREAL (CP) Imperial Tobacco Products Ltd. announced Monday an increase in the wholesale price of cigarettes that will "probably" mean an increase of about two cents a package to cigarette smokers. The increase is effective Nov. 20. Edmond Ricard, company president, said increase "is necessary because of the increased cost of goods and services over the past two years." The wholesale price per thousand cigarettes for regular and king size will increase 57 cents to and 51a.2z, icipec-tively. Mr. Hicard said "the two cents increase per package we anticipate at the retail level will also enable tobacco wholesalers and retailers to regain their margins which have been eroded." There would be no increase in the prices of tobacco for roll-your-oivn cigarettes, cigars, pipe tobacco or head to retire next year OTTAWA (CP) When Louis Rasminsky leaves the Bank of Canada Feb. 1, he will have been only its third governor in 38 years. Mr. Rasminsky, whose second term of office does not expire until July 24, 1975, Monday announced through the board of directors that he would retire on his 65th birthday. A 32-year veteran with the bank, he became its governor July 24, 1961. At that time the -shy, retiring Montreal native stepped into the tumultuous shoes of James Coyne, whose last years as governor were a running fight with the government of the day. The initial governor after the bank -was founded in 1935 was Graham Tower, whose signa-lure like those of his successors marks the lower right hand corner of every Canadian bank note. But where Mr. Coyne defended brilliantly, and flamboyantly at times, the right of the bank to remain always free of government control, Mr. Rasminsky did not. He agreed that while he should control day-lo-day operation of the bank, in times of crisis or international demand, he would take advice from the government on bank action and tactics. His avowed intention was to keep the bank out of contentious situations domestically and internationally, and this he did while still gaining international respect from world banking prices Winnipeg Grain WINNIPEG (CP) All commodities but rapeseed had a dull trade at mid-session of the Winnipeg Commodity Exchange loday. Rapeseed was about two cents stronger in Ihe Vancouver position and fractionally sli-ongcr in the Thunder Bay position on a light trade. Commercial and commission house buying was most prcdominent. Volume of Irade Monday included bushels of flax, of rye and of rapeseed. Flax: Nov. unchanged 3.55, DJC. unchanged 3 May un-changed 2.37'i, July nol open. Rapeseed Vancouver: Nov. higher 2.82, Jan. higher 2.7814, March Hi higher June higher Rapeseed Thunder Bay: Nov. not open, Dec. higher May higher July not open. Oats: Dec. U higher 87iz, Mav '.'a higher July lower Barley: Dec. Vt higher May unchanged 1.26V4, July not open. Rye: Dec. higher 1.21, May liigher 1.26'A, July not open. Grain quotes Monday (basis High Low Close Flax Nov 352V2 335 Dec 333'-z 33211 May board on import ties rebates bates of duties paid on imports. Mr. Vanderkop, charged with fraud from company involving to between 1960 and 1970. was on the stand for the first lime following a month of prosecution evidence. He said the company attempted to circumvent Commonwealth tariff regulations, condoned his bribing of Cuban government trade officials and some customers to buy substandard products, and. concealed shipments from China and Rhodesia when trade with those nations was frowned unon by the United States and the United Nations. The prosecution contends that Vanderkop, acting on his own without the knowledge or the consent of Ihe company, set up many deals internationally which would funnel money skimmed from sales into his own pocket. Mr. Vanderkop said he amassed assets of between and during his years as export manager, but maintained much of it came from "sidelines" he operated while working for Union Carbide. Much of the money he received from the Union Carbide trading schemss was paid back-out in kickbacks lo cuslomers and agenls "for the good of" the company, lie said. "There was no way I could have done it by myself." ASKED FOR REBATES He said Union Carbide applied for "duty drawbacks" or rebates of duties paid on imports of sophisticated chemicals o.rd pol} cthylencs from the U.S. Allhough the rebates applied only to imports whic i were lo be exported lo another counlry, (he products slaved in Canada while Union Carbide shipped surplus slock and "junk'' and made it appear [bat exports tallied with im-porls, he Hog prices EDMONTON (CP) Average prices to 11 a.m. provided by the Alberta Hog Producers Marketing Board: Edmonton: 35.10, average Monday 35.11. Red Deer: 35.05, average Monday 35.10, Calgary: 35.05, average Monday 35.02. Lelhbridge: No sale, average Monday 35.10. Lloydminster: No sale, average Monday 35.00. Fort Macleod: No sale, average Monday 35.05. Grande Prairie: No sale, average Monday 34.32. Hogs sold to 11 a.m. MST, 617. Total hogs sold Monday average 35.06, sows average (CP) John Vanderkop, former export manager in Toronto for Union Carbide Canada Ltd., testified in County Court Monday that the company deceived the Canadian iariff board by applying for price hike ivill help Alberta EDMONTON (CP) Imperial Oil's price increase on oil will net Alberta at least 57 million a vear, the legislature was told Monday by Bill Dickie, minister of mines and minerals. Mr. Dickie said the 10-cents-a-barrel increase is expected to result in other producers following suit. Rut, Premier Peter Lougheed indicated the government still feels the price of Alberta crude is low and should be more closely t i e d to the basic m-modity price. The government las been Hushing for this since it took office 14 months ago. Albsrla will get more than S215 million this year from oil royalties. An additional mil-ion is expected next year, when increased royalties go into effect on proven reserves still in the ground. Mr. Lougheed also told the e.rjislafurc he would be announcing "within the nest tivn weeks" ri new pricing policy for natural Lethbridge Livestock Monday sales 650 hogs. All classes weaner and feeder liogs met only fair demand. Weaners sold steady to fl higher; light feeders under 100 UK. SI to per head lower; heavy feeders over 100 Its. S3 or more lower; weaners 7 to 21.75; light feeders under 100 Ibs. 19.75 to 29; heavy feec'ers 100 ibs. to 130 Ibs. 28.75 to 37; heavy feeders over 130 Ibs. 38 to 41.50; All prices per head. Light feeders under 100 Ibs. sold 31 to 40 per hundredweight, teavy feeders over 100 Ibs. 25 to 29 per hundredweight. Butcher hogs soldi Monday at the Lethbridge yards 35.05 base irice. Good lambs 24.50. Calgary livestock CALGARY (CP) Receipts ".t the Calgary livestock market to 11 a.m. tolallcd lead, mostly slaughter steers ind stock calves. Trade was active. Slaughter steers were 50 lo 75 cuts higher; heifers were tcadv; cows were SO to 75 pnls lower willi good kinds carce; no bulls. Choice slaughter sleers 34.75 0 36.30, Rood 3.125 to 3J.50, ncclium 31 to 33. Choice heifers lo 33.90, good 32 lo 33, report Good feeder steers more than 750 pounds 34 lo 36.10, good stock cows 22 to 28. Good stock steer calves 44 to 48.50. Good stock heifer calves 35 to 40. Hogs base price Rapcsccrt Vancouver Nov 200V.I Jan 27G'A Mar 275 273 273 Vz June 270 26914 Rnpcsccd Thunder Day Nov 253 Dec 251-14 25214 25211 May 2611, 26114 Jly 261 Onls Dec 871i May 09'.8 89'i Jly 89-ii Barley Dec 124'.j 124's May 12Glz 12614 126'i Jly Itjc Dec 121 12014 12014 May ]257s 125 125ni Jly 12014 12614 milk jugs must go TORONTO (CP) Ontario's milk industry has been given one year to get rid of threc-quart cardboard milk containers, Environment Minister James Auld announced today. Mr. Aull said in a statement the ban, effective Nov. I, 1373, is an attempt lo ease the problems of waste disposal in Ontario. A similar ban was placed earlier this year on disposable plastic milk jugs. The minisler said a gradual elimination of the three-quart containers is preferable to an immediate ban. "Such sudden nclion aggravates waslc disposal problems as manufacturers and RADIO Requires o new broadcaster Immediately. This posilion requires prior broadcast experience preferably In news or sports. The successful applicant will work a lota afternoon and evening shift. Usual company benefits apply. Mail a complete persona) and business resume, recent photo, salary expected, and audition tape lo Mr. Warren Holie CFCW RADIO CAMROSE, ALBERTA 4872 50 STREET T4V By Gene WMlSTlfSWKff THE REMOTE SWITCH ACTIVATED BYCLAPPING, RETORTED HERE RECENTLY, NOW HAS A OWPANION -BUT ONE TURNS ON AND OFF BV AN ULTRA-SONIC PLUSSEDINTOANYW4LL SOCKET, IT ACCEPTS PLUSS OF UNITSTOBE ty ouEOFWfM you I'll lures WINNIPEG (CP) Live futures close Alonday. Nov. 35.25B; 37.00N. Friony's volume: Four value MONTREAL (CP) U.S. lollar in Icrms of Canadian unds at noon today down 1-32 it Pound sterling down at ?2.3I PACIFIC squeeze _ 3-MONTH r f f f 30 to 31.75. Good cows J.75 lo 25, medium 23 lo 23.50, canncrs and cutters 17 to 21.50. Replacement cattle and slock cr.Ives met a good demand 1" dump slocks nil at once. "Wc have no cause lo force a severe and imcccssary economic loss on these IMPERIAL OIL LIMITED L f i N MOBILE 1 r c 3 J HOME M.t.S. Fully furnished, 3 bedrooms, ulilily room, kilchcn and living room, skirled and ready for occupancy. Excellent condition, sbag carpet in living room and master bedroom. 03 ASTRO WES 1 MINSTER SHOPPING PLAZA Ph. 328-7748 ALICE HAHN JOHN PENNER 327-3708 CHARTERED ACCOUNTANT Recent graduale required in Calgary office for analytical posilion relating lo exploration and production operations. Assignments will be varied and challenging, providing excellent opportunity for advancement. Applicalions will bo lield In slriciesr confidence. Please icply in wriling, submitting full parliculars lo: Financial Services Manager Imperial Oil Limited 500 6th Avenue SW Calgary, A. Ferguson Earl E. Olson Ap point men 1 of Robert A. Ferguson as regional manager, public relations and advertising, Vancouver, and Earl F OKon as assistant regional manager, has been announced by D. B. Wallace, general manager. A former nurnalisi, Mr. Ferguson has held various positions with RELIABLE BUSINESS-MINDED MAN Who con meet our high standards Will be given exclusive rights to this entire area Small Iniliol investment of which Include! equipment, should bo returned 3-fold in first year. Inlornalional concern provides assistance, n ready market and national advertising program. OUTSTANDING OPPORTUNITY Reply: Box 44, Lethbridge Herald Montreal and Calgary. Based in Vancouver, ho will bo re-iponsiblo for departmental activities in BritKh Columbia and Alberta. Mr. Olson, a veteran radio and television brood-toiler, joined Canadian Pacific in 196? in Canary public relations office, Ho will continue to reside In Calgary. ;