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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 7, 1972, Lethbridge, Alberta inc >11 its advanced technology >road, bu also urged a more fstematic effort to obtain estern licenses for moderniza-on of outdated segments of omeslic induslry. Kosygin made these and ther judgments in a speech ept. 30 to a meeting of the owerful State Planning Com-u'tlee, the nation's economic lanning agency, at which Jraft for the 1973 economic rtan was discussed. The hard-lilting speech, not previously mblished, is summarized in the November issue of the monthly ilanning journal, Planovoya Chozyaistvo (planned The fact that the premier took an active part in the planning session and delivered what was described as speech" seemed to suggest that .he economy, and industry in Darticular, remained one of his concerns in the division of functions among the Soviet political leadership. He made only passing reference to the farm situation, weather conditions this year caused problems in agriculture as well as in some branches of industry and in construction." In apparent allusion to the additional expenditures caused by the economic situation this year and their future impact, he added that most of these difficulties were being overcome as a result of unspecified measures taken by the leader-sMp and demanded that the plan for next year reflect the new situation. There have been unofficial but insistent reports of a shift if. priorities for the year ahead. Soviet budget managers are said to have allocated an additional 20 billion rubles (Dollars) (24 billion) to agriculture at th; expense of other fields of activity. RESOURCES TIGHT However, the tenor of Kosy-gin's speech left little doubt hat Soviet development resources had become tight. "The planning committee and the ministdes must reduce the number of new construction starts in he was quoted as having said. "The technical and economic choice of location for the new projects must be improved, planned construction times must be tied in with available financial and material resources as well as with the capacity of building contractors." Clearly indicating a strain on foreign currency reserves, he criticized the economic planners fo- purchasing steel gas-transmission pipe abroad even though the Soviet Union is now the world's leading pipe manufacturer. He urged that Soviet industry manufacture its own large-diameter pipe for a growing natural-gas transmission network. Kosygin welcomed western techniques, including the use of a common mineral called Ne-phelite for deriving aluminum, which is usually extracted from tire rarer Bauxite. "However, we should not only sell technical licenses, but buy them he added, in apparent allusion to the need for updating many antiquated Soviet industrial practices. Market p in active TORONTO (CP) Prices on the Toronto stock market climbed moderately higher in active mid-inorning trading today. The industrial index, considered a major indicator of market trend, was up .38 to 208.65 and base metals .22 to 83.97. Golds, however, were off .06 to 179.85 and western oils 2.00 to 252.18. Volume by 11 a.m. was shares compared with 1.03 million traded by the same time Monday. Real estate, utility, food processing and bank stocks were among sectors of the market recording the best gains while beverage, communication, oil refining and trust and loan issues were off slightly. Advances were well ahead of declines, 132 to 90, while 203 issues remained unchanged. Bell Canada was up to Reader's Digest Vz to Sklar Manufacturing to Canadian Imperial Bank to and BP Canada to Bow Valley fell 2 to Falconbridge Nickel 2% to Agra Industries to Imperial Oil to and MacLean-Hunter Cable 'A to Lytton rose 28 cents to Copperfields 10 cents to and Teck Corp. A 15 cents to Roman Corp. dropped 15 cents to and Brunswick Mining and Smelting 15 cents to LIGHT TRADE MONTREAL (CP) Advances outnumbered declines in light trading on the Montreal stock market today. Combined volume on nllkWiiriB i-jfm-LmJSH rices up trade Montreal and Canadian stock xchanges at 11 a.m. was shares, compared with at the same time Monday. Banks advanced 1.55 to 66.54, utilities .81 to 155.75 and apers .03 to 91.77 while Indus-rials dropped .59 to 228.51 and the composite .09 to 218.51. On the Montreal Stock Ex-hange, Falconbridge Nickel hange, Falconbridge Nickel ropned to and Ashland Oil Vt to while Francana Oil and Gas rose to On the Canadian Stock Ex-hange, Alliance Building Corp. was up to on hares traded. Markets closed NEW YORK (AP) All securities and commod i t ies markets are closed in the U.S. oday because of the mines (Supplied By Richardson LAST BID 0 a.m. auoteO MINES Norlhgale ftcme -32 Horlex MS Pl.c.r Irou an r.L. cxp, Bethehem outbec Man Brunswick 3.75 Rayrock -an. N.W. Land 6.00 Radlore Canada Tung. M4 Rio Algom -KSiar 13.00 Roman Corp. Centra Pat. 1.25 Sherrltt Gordo So I-00 5Ilver Miller conwest 5.35 Sleep RotK Cons. Rambler 2.W TeK Corp. Coin Lake .0914 Texmont Cochenour .34 Upper Canada S.45 Western Mines Dlckenson Mines 1M Wright Hargr Denison Mines 27.00 willroy Deer Horn .06 Wlndlall D'Eldona .SI Yellowknile B Dome Mines 40.00 Donalds INDUSTR Discovery Mine- .70 Abillbl East Malartlc 2-15 Alcan East Sullivan 2.15 Algoma Steel Falconbridge 51.25 Atco In Atlantic Sugar First Maritime! .'i Agra Ind Giant Y.K. Bell Tel Bovls 2.05 Brazil Trac Granduc 2.95 B.C. Tel Headway R.L. 5.00 Burns Hollinger 38.00 B.C. Forest Hudson Bay M-S 20.00 B.C. Sugar Hvdra Ex. -18 Bow Val Ind ran Bay 3.60 CAE Ind jso .m. 4.GO Dome Pets 38.75 .20 Dofasco 27.75 .23 Catle 19.00 29.00 Ford of Am 71.75 36.00 Grl Cdn Oil 8-20 2.95 Gen Motors 78.00 Grt Lakes Pr 16.00 l.n< Gulf Oil Cda 36.00 3J Greyhound 22.00 19 '.0 Hawker Sid 3.70 Hur Erie 31.75 13.50 Hiram Walker Imp Oil 1.73 Imasca 27.50 5.10 Int Nickel 32.60 35 Int Pipe 2.70 Inv Gro A 2.50 Int Util 23.00 aves .90 ind Accept 1.24 Laurenlide 13.75 .10 LoeL) -1-00 ear 3.60 Loblaw A .09 Met Stores' 20.00 AL5 Wlassey Ferg. 17.37V4 9.50 McMillan Bloe 21.00 Moore Corp f i By THEODORE SIIABAD i New York Times Service i MOSCOW Premier Aleksei t I. Kosygin, in an unusually a appraisal of the state of I ie Soviet economy, has called i or stringent savings and re- uctions of waste in 1973 in j the costly crop failure 1 lis year. i Reflecting a n increasing train on Soviet financial and s nvestment resources following s xpenditure of an estimated a wo billion for grain from s broad, but also urged a more v nanded more efficient use of t xisting industrial capaeily, d arred new construction starts aid foreign currency should not o e spent on goods that Soviet S ndustry could produce itself. p He welcomed, a growing len- n ency of Ihe Soviet Union to Nov. price to I Imperial Tobacco markets 1 about 15 brands of cigarettes. There was no indication of i any immediate price increase irom other cigarette com-aanies. 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 hiked ow-or fixed-income brackets ind even a slight price increase ould be a great hardship to heEe the company aid. The last price increase by mperial was January, Molsons B 28.00 North 8, Cent 12.50 Power Corp 12.75 43.37VJ Price Co. 11.62V3 20.00 Rothmans 18.25 57.50 St. Law Corp 19.75 18.75 Shell CDA 5-1.25 20.00 Simpson's 29.25 Simp Sears 39.50 36.50 Steel of Cda 32.50 9.37V3 Selkirk A 12.75 5.75 Texaco 3 50 Traders Grp A 20.75 .73 Trans Mtn Pipe 22.75 r 26.12'A Trans Cda Pipe 46.50 1.65 Union Gas 12.00 Pfd 11.12VJ Union Oil 50.00 16.00 Versatile Mfg 6.25 A 75 Westeel 23.00 10.50 Union Car 16.50 3d-12Va Weston'SB 19.75 14.50 Woodward's A 26.75 25.37VJ West Cdn Seed 6.00 ld.50 Zenilh Elec 3.10 16.75 BANKS s 37.75 Cdn Imp 27.75 30.75 Montreal 20.75 16.62V3 I'ova Scotia 38.75 8.50 Royal 35.00 14.50 Tor-Dom 5 quotations jary, Montreal McCuaig Limited) OR SALE Quotes) tmoo a.m. Quotes) 1650 Inves Growth F 12.24 13.39 44.00 Inves Mutual 5.B3 6.3i r 4 90 Mutual Accum 6.04 6.6 pc 12.87'A Mutual Gr F 4.77 5.25 [eel 1500 Nat Res 7.43 8.12 220 N.W. Cdn 5.35 5.88 N.W. Growth 595 654 3oS Principal Gr 4.96 5.45 Royfund 4.86 7.14 ,'m Tmpltn Growth 8.80 8.83 United Accum 5.64 6.20 H JM Univer Svgs 7.95 8.77 d Vanguard 8.72 9.56 'H, Unlvest 6.05 6.65 VANCOUVER MINES R in Allon "5 Atlas Explor .47 Bathurst Morse .73 A Brenda 3.60 Churchill Cop .52 STOCKS crovden .05V; 15-00 Davenport -33 f 69.00 Dankce .W 19.75 D0ny varden .26 Gas 11.75 Dynasty 8-25 11.87V2 Equltorial -15Vi [d 2S.37Vj Fort Reliance -35 J.95 Giant Mascot 70-00 Graisle 5-70 ipe 46.25 Lornex 6-75 40.25 Lytton Minerals 1.S5 86.50 Primer -09 War Pyramid .26 53.50 Silver Std .70 Is 5 25 Texmont -35 FUNDS Valley Cop 7-75 4.64 529 INDUSTRIAL 3d 8.42 9.20 Block Bros 2.80 921 1007 B.C. Sugar 19.87W 4.27 4.67 B.C. Sugar Pfd 14.75 F 6.55 7.19 Capt Infer 3.70 31 3.40 Columbia Brew 3.30 514 5.64Crstbrk Fcr Ind 3.20 7.10 7.80 Hys 3.40 14.76 16.22 Key Indus .55 4 10 4.51 Pac West Air 22.75 8.07 8.B7S1mpd Int'l Res .63 6.12 6.69 OILS JS 13-21 14.4B Albany Oil -73 4 24 4.66 Plains Pete y 8.37 9.19 West Explcr MONTREAL (CP) Impe-ial Tobacco Products Ltd. an-lounced Monday an increase in he wholesale price of ciga-ettes that will "probably" Tiean an increase of about two :ents a package to cigarette smokers. The increase is effective Nov. 20. Edmond Ricard, company president, said the1 increase "is lecessary because of the increased cost of goods and serv-.ces over the past two years." The wholesale price per thousand cigarettes for regular acid king size will increase 57 head to retire next year OTTAWA (CP) When jouis Rasminsky leaves the 3ank of Canada Feb. 1, he will lave 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 )ank, he became its governor July 24, 1961. At that tune the-shy, retiring Montreal native stepped into he 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 rank-was founded in 1935 was Graham Tower, whose signa-iire like those of Ms 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 lo remain always free o: government control, Mr. Rasminsky did not. He agreed that while he should control day-to-day operation of the bank, in times of crisis or international demand he would take advice from th< government on bank action am tactics. His avowed intention was ta keep the bank out of con tenUous situations domesticall) and internationally, and this he did while still gaming inter national respect from worlc banking prices Winnipeg Grain WINNIPEG (CP) All commodities but rapeseed had a dull trade at mid-session of the Winnipeg Commodity Exchange today. Rapeseed was about two cents stronger in the Vancouver position and fractionally stronger in the Thunder Bay position on a light trade. Commercial and commission house juying was most predomlnent. Volume of trade Monday included bushels of flax, of rye and of rapeseed. Flax: Nov. unchanged 3.55, Dec. unchanged May unchanged July not open. Rapeseed Vancouver: Nov. higher 2.82, Jan. 2'A higher March 1ft higher June Hi higher Rapeseed Thunder Bay: Nov. not open, Bee. higher May higher July not open. Oats: Dec. V, higher May Vs higher July lower Barley: Dec. higher 1.24V4, May unchanged 1.2% July not open. Rye: Dec. Vz higher 1.21, May higher July not open. Grain quotes Monday (basis High Low Close Flax Nov SoSVi 352V2 355 Dec 333Vz 33ZV4 May Mr. Ricard said "the two cents increase per package we anticipate al the retail level will also enable tobacco wholesalers and retailers to regain .heir margins which have been eroded." There would be no increase in the prices of tobacco for roll-your-own cigarettes, cigars, pipe tobacco or 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 for roll-your-own cigarettes is not being adjusted "because users of this type of tobacco are generally in board deceived on import duties rebates TORONTO (CP) John Van- bates of duties paid on Hog prices EDMONTON (CP) Average prices to 11 a.m. providec 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, a v e r a ge Monday 35.02. Lethbridge: No sale, average Monday 35.10. Lloydminster: No sale, aver age Monday 35.00. Fort Macleod: No sale, aver age Monday 35.05. Grande Prairie: No sale, av erage Monday 34.32. Hogs sold to 11 a.m. MST 617. Total hogs sold Monday average 35.06, sows former export manager in Toronto for Union Carbide Canada Ltd., testified in County Court Monday that the com-panv deceived the Canadian tariff board by applying for Vanderkop, charged with fraud from tie company involving to between 1960 and 1970, was on the stand lor the first time following a month of prosecution evidence. He said the company attempted to circumvent Commonwealth tariff regulations, condoned his bribing of Cuban gove-nment trade officials and some customers to buy substandard products, and. concealed shipments from China and Rhodesia when trade with those nations was frowned uoon by the United States and the United Nations. The prosecution contends thai Vanderkop, acting on his own without the knowledge or the consent of the company, set up many deals internationally which would funnel monej skimmed from sales into his own pocket. Mr. Vanderkop said he amassed assets of betweei and during his years as export manager, bu maintained much of it came from "sidelines" he operated while working for Union Car bide. Much of Ihe money he received from Ihe Union Carbide trading schemes was paid back out in kickbacks to customer and agents "for the good of the company, he said. "There was no way I coulc 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 nrd polyethylencs from the U.S. Although the rebates applied only to imports which were lo be exported to another country, the products stayed in Canada while Union Carbide shipped surplus stock and and made it appear that exports tallied with imports, he price hike ivill help Alberta EDMONTON (CP) Imperial Oil's price increase on oil will net Alberta at least million a vear, the legislature was told Monday by Bill Dickie, minister of mines and minerals. Mr. Dickie said the 10-cenls-a-barrel increase is expected to result in other producers following suit. But, Premier Peter Lougheec indicated the government still feels the price of Alberta crude is low and should be more closelv t i e d to the basic m-modity price. The government has been nushing for this since it took office 14 months ago. Alberta will get more thai S215 million this year from oi loyalties. An additional mil lion is expected next year when increased royalties go into effect on proven reserves still in the ground. Mr. Lougheed also told the legislature he would be an Bouncing "within the next two weeks" a new pricing policy foi natural Lethbridge livestock Monday sales 650 hogs. All classes weaner and feeder hogs met only fair demand. Weaners sold steady to ?1 higher; light feeders under 100 Ibs. to per head lower; heavy feeders over 100 Ibs. or more lower; weaners 7 to 21.75; light feeders under 100 Ibs. 19.75 to 29; heavy feec'ers 100 Ibs. report Good feeder steers more than 750 pounds 34 to 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 By Gene 331% Rapescerl Vancouver Nov 280V4 Jan 27814 276'A Mar 273 273V4 June 270 268% Rapeseed Thunder Bay Nov 253 Dec 252Vi 25211 May 26114 Jly 261 Oats Dec 87Vi May Jly ssn Barley Dec 124Vi 124's 12414 May 12614 Jly 12714 lij-c Dec 121 12014 12012 May 1257a 125 125ni Jly 1261-i 12614 milk jugs must go TORONTO (CP) Ontario's milk industry has been given one year to get rid of tlirec-quart cardboard milk containers, Environment Minister James Auld announced today. Mr. Aull said in a statement the ban, effective Nov. 1, 3373, is an attempt to ease the problems of waste disposal in Ontario. A similar ban was placed earlier this year on disposable plastic milk jugs. The minister said a gradual elimination of the three-quart containers is preferable to an immediate ban. "Such sudden action aggravates waste disposal RADIO Requires a new broadcaster Immediately. This position requires prior broadcast experience preferably in news or sports. The successful app icant will work a late afternoon and evening shift. Usual company benefits apply. Mail a complete personal and business resume, recent photo, salary expected, and audition tape to Mr. Warren Nolle CFCW RADIO CAMROSE, ALBERTA 4872 50 STREET T4V THE REMOTE SWITCH ACTIVATED BYO.APPING, RETORTED HERE RECENTLY, NOW over 130 Ibs. 38 to 41.50; All prices per head. Light feeders under 100 Ibs. sold 31 to 40 per hundredweight, Yjavy feeders over 100 Ibs. 25 to 29 per hundredweight. Butcher hogs sold. Monday at the Lethbridge yards 35.05 base price. Good lambs 24.50. Calgary livestock CALGARY (CP) Receipts r.t the Calgary livestock market to 11 a.m. totalled head, mostly slaughter steers and stock calves. Trade was active. Slaughter steers were 50 to 75 cents higher; heifers were stcadv; cows were 50 to 75 cents' lower with good kinds scarce; no bulls. Choice slaughter steers 34.75 to 36.30, good 33.25 to 34.50, medium 31 to 33. Choice TURNS ON AND OFF BV AN ULTRA-SONIC ANY WALL SOCKET, IT ACCEPTS PLUSS OF UNITSTOBE value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon today down 1-32 at Pound sterling down at futures WINNIPEG (CP) Live futures close Monday. Nov. 35.25B; 36.50B March 37.00N. Fric'oy's volume: Four con PACIFIC APPOINTMENTS _ 3-MONTH OLD _. to 33.90, good 32 to 33, me-tium 30 to 31.75. Good cows 23.75 to 25, medium 23 to 23.50, dinners and cutters 17 to 21.50. Replacement cattle and manufacturers and supp ies try to dump their stocks all at once. "We have no cause to force a severe and imccessary IMPERIAL OIL MOBILE "5 4 HOME Fully furnished, 3 bedrooms, utility room, kitclion and living room, skirted and ready for occupancy. Excellent condition, shag carpet in living room and master bedroom. 0] ASTRO WEil MINSTER SHOPPING PIAZA Ph. 328-7748 ALICE HAHN JOHN PENNER 327-3708 met a good demand at steady Requires CHARTERED ACCOUNTANT QUALIFICATIONS-Recent graduale required in Calgary i office for analytical posi ion relating to exploration and production operations. Assignments will be varied and challenging, providing excellent opportunity for advancement. Applications will bo held n strictest confidence. Please reply in writing, submilling full particulars to: Financial Services Manager Imperial Oil Limited 500 6th Avenue SW Calgary, Robert A. Ferguson Appointment of Robert aer, public relations and ac F OUon as assistant reg one announced by D. 8. Wallac journalist, Mr. Ferguson has nadian Pacific's public re at in Montreal and Calgary. Bas sponsiblo for departmcnta ac Alberta. Mr. Olson, a voierc cosier, joined Canadian Pacifi relations offico. Ho will Earl E. Olson k. Ferguson as regional mana-vert is ing, Vancouver, and Earl manager, Calgary, has been flcncrol manager. A former icld various positions with Cans and advertising deparlment cd In Vancouver, ho will bo rc-t vities in British Columbia and n radio and television hroad-in 1969 in the Calrtary public uo to reside In Calgary. RELIABLE BUSINESS-MINDED MAN Who eon meet our high standards Will be given exclusive rights to this entire area Small Iniliol invcslmc-nt of which Includes equipment, should bo returned 3-Md in first year. International concern provides assistance, a ready market and national advertising program. OUTSTANDING OPPORTUNITY Reply: Box 44, Lethbridge ;