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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 8, 1972, Lethbridge, Alberta 24 THJ B Big iii TORONTt sixth c prices on niarkc-t pos active mk-clay the inclii. wel a maji ket Ireml, golds .-10 lo .10 to industrials (Supplied Bv Ilichardsoo Securities of Camilla) LAST DID OR SALE a.m. Quotes) a.m. iauaiesl a.m. WESTERN OILS Hugh Russell 48.00 Gr In Share! 4-U 4.69 Almlnex 6.H5 Husky Oil 17. Od Gr Eqully 9.27 Alia Eaat Gas 765 Oil B 44. CO irwesl Gr F 15.77 13.J1 Aaamera 1S25 Husky Oil Invest Mutual S.HS 6 ao Ashland 12.75 Inter Prov Pipe Mutunl Ac 6.10 6.71 Can Soulh 7.85 Inler Prov Slcel Mulunl Gr F 5.2S Tdn Ex CM 4.00 Kaiser 255 Nal C.dn MM MGF 750 N W Mn 5 J8 59) CcJn Ind Gdb Oil 11.00 Pacific Pela 41.50 W Gr J-" j-Jj Cdn Super 53.75 Rainier 6 75 Principal Gr s.n Cdn Long It .36 Sand well 370 Rov'unct Charier -100 Teledyne AM G.r Chlellan 15.75 Wesl Cdn Soerf 600 J'JJ Jj' Dome PrlP J9.75 While Yukor B 75 5 59 01 Plains 31.75 V.'pslNcId l.CS y Gl Ccln Oil fi.25 CALGARY MINES LcNThiel !.n6 Arroll -S3 Norlh Cdn O.. fi 05 Barons O Fxolor jfi Numac ifl.SO Norlh Cont N" "_ 'JB Pancdi. Pete U.25 West Warner 35 Brindn 3M Pan Occnn _ 16.50 LtNE syQCKS Churchill Copper .52 pelrol 1..15 A 75 Croydcn .05 Pmnecle .36 Ga5 Prct 69.00 Davenport Place Gfli .81 Na, Gas )97i Ddnkoe W 1 Ponder .50 Na Gd5 11 75 Dolly Varrten J6 M.35 N flnd c Gas 13 nn Equllorlal .I5''i Scurry Ra.n 16 N c B Plri 25.SO Forl Reliance 36 Spooner 72 Gfl7 S 00 Mascol 5 rio n.62--a 3" MG'O A 7000 Lorncx 700 Total Pele Trans Ppe ,6.75 Lytlon Minerals l.us Ulsler 1.25 Trand Cd3 B Pnmt- .05 W DecaMfl ft 15 Trans Cd, A 75 Pyramid 27 WHI Pole lOOH IJIS Awar ,3.75 Silvor Stand-rd .72. MISCELLANEOUS y.r Trans J3.A3'-j INDUSTRIES WC Trans WIs 5.40 Aciuitaine ?5 50 MUTUAL FUNDS 7tl Brinci' 5.75 Cdn Com B J3 9 21 B.C. Suqar 20.00 Cdn Brew A ?fi.0'> A1, cdn Divid 9.2] B.C. Sugar PM 15.00 Cdn Brew B 3500 AM cdrl yenl 4.26 4.69 Capl Inter 370 Cdn Pacific Inv 23 00 Amr Gr F 6 55 7.19 Columbia Brew 3 30 Crcwsnest Ind 25.12W AGF Specla D.J1 Cresrbrook F Ind 3.20 Cyqnus B 7.00 cdn In Fund 5.1B SfiflHys X-iS Falcon Copper 11.50 col Mutual 7.09 t7B Key indusl .55 Genstar 15.25 cmnw Inter 14. 03 16.30 Pacific W Air r.75 Home A 39.12i'3 Cmnw Lev Stampede Inll Res 65 Mom- B :B.50 Cmnw Vent B.09 8.B9 expectec By VICTOR MACKIE OTTAWA The greatest Increases in business investment in the coming year will occur in the Prairie provinces and Ontario, according lo the results of a field survey of the capital spending intentions of some 200 large companies across the country. Industry, Trade and Commerce Minister Jean-Luc Pepin released the results of the annual survey Tuesday. He said it is designed to provide a preliminary indication of likely trends in total business investment in the coming yeav. The coverage of tlie survey varies considerably among investir I to app panics in 1972 and plane for 1873 (Millions of Estimated for 1972: Manufac luring companies Mining companies 762.4; Oil Gas companies 985.7; Electric Utilities Transportation, oil and gas pipeline companies Other companies-Financial retailers and real estate developers 325.6. Totnl Planned for 1973: maourac-turing companies Mining companies 527.9; Oil and Gas companies Electric Utilities Transportation oil and gas pipeline aod-Com-munication companies Other companies financia retailers and real estate devle-opers 415.9. Total Percent change 1972 to 1973: Manufacturing company; 10.8: Mining companies -30.8; Oil and Gas companies 19.5; Electric Utilities 22.7; Trans.-porlalion. oil and gas pipeline and-Communication companies 6.6; Other companies-Financial, retailers and real estate rs 27.7. Total 9.9. posted TSE trading (fpi For the SU-> and I'ppcr Canada ric-jnscuilive se.-isiim. sources 8 cents to S2.78. Lylion the Toronto stock Mineral.1; fell 6 cents to SI 90. ed sharp gains in morning trading In- MONTREAL (CP) All FCC-crs advanced in light Iradinu rial index, consul- m ,he markc r indicator of mar- Combined volume on the Montreal and Canadian lo 257.-I1. Volume hy II a.m. was l.dfi million shares compared traded by Hie same lime Tuesday Cominun cation, hank, merchandising and oil refining stocks were among sectors of the market recording the best gains while fond processing and pipeline issues were the only sectors registering losses. Advances almost tripled declines. 193 lo 73. while 172 issues remained unchanged. Bow Valley rose lo S373i. !'i to Pacific Pete to S42'.i. Great Lakes Power to S23 and Bell Canada lo H2'i. Holiday Inns was off l.o S12. Transglobal S cents to Sl.OO. Great Wesl Steel i to and Acklands "i to Iso advanced 40 cenls to S4.75. Shcrritt Gordon N al n am was shares, cornpa-ed with al the same lime Tuesday. Banks rose 4.06 to 274.26, the composite to 221.48. indus-rials 1.55 lo 231.15. utilities .39 lo 157.54 and papers to 92 51. On the Montreal Stock Exchange, Readers Digest rose Hz to SSO'.i and Pacific Petroleum I't lo S423s while CFCN Communicalions dropped 1 to Sin. On the Canadian Stock "Ex change, Ajax Minerals added Vi lo 36V4 cents on shares. NEW YORK (API The Slock market spurted ahead early today after President Nixon's re-election but enthusiasm waned at midday. Al noon, the Dow Jones average of 30 industrials was up n.37 to 985.17. Earlier in the session it had risen more than nine points to approach its all-time closing high of 995.15 reached Feb. 9, I960. Among Canadians, Mclntyre Porcupine advanced lo S51, Alcan was up to S2Hz while Dome Mines at S6H-i and Gen-star Ltd. at Jlali each Walker Gooderharn declined lo JSBs and Distillers Seagrams was off lo Ml. On the American Stock Exchange. Scurry Rainbow 0 i 1 advanced 1'i lo Neonex was up 'i at and Preston declined Vi lo million set lion's annual meeting, Mr. Run-ciman said the record grain handling "offset a sharp drop in storage earnings and allowed lire organization to achieve the third highest earnings in its 66-year history. "However, average dally country stocks of 42 million bushels were down six million from 1971. meaning over one-third of the storage capacily wa_s empty Mr. Runciman said that, for the first time in four years, the company's agricultural product lines showed a profil. SEKD SALES DOWN "Even though sales of seed were down 20 per cent, r. 24 pp.i- cent increase in fertilizer sales and a 17 per ccnl increase in feed sales allowed moderate earnings." Net earnings of SI. were down from last year's mainly due in increased costs in operating expenses and increased provision for patronage dividends, he said. United Grain Growers' operating and ether revenues lor the 1971-72 crop year were and operating, general and administrative expenses were This resulted in earnings before patronage dividends and income lax of compared to the preceding year. Mr. Runciman told alxiul 330 farmer delegates thai it cost 12.19 cents to handle a bushel of grain at country elevators last crop year. NEW ELEVATOn Plans for new type elevator wliich will handle two million bushels of grain a year and load a boxcar in less than 20 minutes were unveiled al the meeting. Mr. Runciman said the twin-annex elevator could be built for about "For less than we can adapt the design to handle three million bushels." Mr. Runciman also said legislation to provide income security to prairie farmers is essential. He said the directors of the farm organization "view a federal proposal to provide Income security as priority lit REGKA (CP) United Grain Growers set a grain handling record of 144 million bushels at country elevators and 130 million at n [or the crop year ending July 31. 1972, (he organization's president, A. M. Runciman, announced today. Speaking lo Ihe BaV Oil .19. ZS Cnrn In SI F S M S 7fl Plains Pels .31 Hud Bay Pld SB Oft Dreylus F U.S. 13.21 1 -US Wesl Explor .06 Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, McCnaig Limited) LAST BID OR SALE i.m. Quotes] a.m. Quotes) a.m. Qutfes) MINES P.C. EKq 2.90 Grl Cdn Oil 6.30 Acme Quebec Man .OB Gen Molors 79.00 Advocate Asb. 1.35 Rayrock 03 Grt Lakes Paper 16 DO Akailcho 51 Radiore .29 Gulf Oil Cda 36 37 Vi Bralorne 1 90 Rio Algom 19.25 Greyhound 27 75 Broulan .29 Roman Corp. 6.35 Hawker Sid 3.70 Bethlehem 15.50 Sherrilt Gordon Hur Erie 31.75 Brunswick 3 7" Silver Miller 04 Hiram Walter 50 Can. N.w. Land 6.75 Sleep Rock l 70 Imp Oil Canada 1 Tek Corp. 5.00 Imasca f IS Casslar 13.25 Texmont .35 Inf Nickel 31.75 Central Pat. 1.35 Upper Canads 5.7? Inl Pipe 2B.50 Chimo 1-00 Wpsfern Mines 2.60 Inv Grp A 10 B7 'i Cons Rambler 2.59 Wright HarQreaves .96 Inl Ulil 22.75 Coin Lake Willroy 1.00 Ind Accppl 2650 Cochenour .29 Windfall .10 Kaps 10 75 Craiomont 5 75 Ycllowknlle Bear 3 60 Laurenlirio 11 75 Dicksnson Mlnei 2..i5 Zenmac .10 Kelly Douq A 7.75 Denison Mines 27.00 INDUSTRIALS Lo-h -1.00 Deer Horn M Ablllbi 9 Loblav, A 6.75 D'Eldona -IB Alcftn 71.00 Met stores 71.50 Dome 50 Algoms 12.75 Wassey Pero Donalda M Alco Ind McMillan Bloe 33.50 Discovery Mines .70 Allanlic Sugar S.SIVi Moore Corp W nv3 Easl Malarfic 2.15 Agra Ind 12.62VJ Molson5 A 79 75 East Sullivan 2.25 Bell Tel 4d.35 Mnlsons B JB.Cy) Falconbridge 5fl no Brazil Trac 20.00 North 1 Cenl 17.00 Frobex 3B B C. Tnl 59.50 Pcmbina Pipe U.12Vi Firsl Maritime! .50 Burns 19.00 Price Co. n.75 Giant Y.K. 6.B5 B.C Forest 2C-.00 Rolhmans lB.37''i Headway R.L. 5.00 B.C. 5uqar 20.00 Si Lew Corp 19.75 Hollinger 18.00 Bow Ind 37.1 Shell CDA s 5 plans Voter support for Ihe meas-i IT was put al 55 per cent, with K per cent against. II was opposed by oil companies, public utilities, land developers, many coastal cities and some labor unions. California Slale Assem-i yman Paul Priolo. a chict backer of Ihe measure, said he believed it would end expansion of coastline oil drilling The bill passed despite a heavily-financed advertising campaign which Priolo branded an "totally misleading Opponenls of the measure doited highways with billboards saying "The beach belongs to don't lock it up." Besides the stale development commission, the measure sets up six regional commissions comprised of both stale and local officials to draw up development environmental is Is scored a major referendum victory Tuesday by winning public support for regulated development of the coastline. The measure known as "Proposition 20" reduces piecemeal development of Hie coast hy local government bodies and creates a commission to oversee planned Liberals applaud Trudeau OTTAWA (CP) The Liberal party held first postelection caucus today and Prime Minister Trudeau was given a rousing standing ovation when he, entered the room to meet with his MPs and senators. The caucuc was expected to take a long, hard look at the recent election campaign and the decline of Liberal strength but, judging by the reception he received, there no indication that the prime minisler would have a difficult time behind the closed doors. The meeting was expected to continue through most of the day. When he was asked about topics for discussion, Mr. Trudeau said, "western beef." He appeared to be in a light-hearted mood as he joked with reporters beforehand. But he declined to give any Indication of when Parliament would be called into session. About Tuesday's American presidential election, he said: "A majority is something I am not accustomed to." But he didn't think his lack of a majority and President Nixon's overwhelming endorsement, would change the bargaining strengths of the two countries. "I don't think President Nixon Ls going to count votes when he sits down to discuss" Canadian-U.S. affairs. And Mr. Trudeau said he didn't consider his own position weakened. "So long as you're prime minister, you're prime shortage is problem BATAWA, Onl. (CP) One of the most important problems facing the shoe industry today is the "tremendous shortage of rawhides" and "the resulting skyrocketing Thomas Bata, president of Bata Industries, said in a brief press conference at his company's plant here Tuesday. Mr. Bata said rawhides used for footwear leather cost about 11 cents d pound in 1971, but most recent prices quoted at Chicago were 42 cents a pound. He said the average shoe takes about three pounds of leather. Rafa's international plants are expected to produce approximately 300 million pairs of shoes this year, between 50 and (50 million pairs for import-export Bay 3.55 Chemcell J.50 Steel of Cda 32.25 ISO Col C5I1 75 Selkirk A 12.75 Jolict Oueoet .22 Calqary Power 36.0" Texaco S3.62Vi Key Anacon ,lv Coron Credll 1.65 Traders Grp A 21. On Labrador 39.75 C W.N. Gas Pfd 11.00 Trans Wlln Pipe 2775 Langis Silupr n5 Cdn Ind 16.25 Trans Cda Pp 46 Madsrn R L fA fdn Marconi A 75 Urlon Gas 12 00 Malarlic G F .19 Cdn ID. 75 Union Oil 51.00 Martin McNePly VtVi Chrysler W Versnllle Mfg 5.87'A Maclntyre J4 C.P.R. l-f.75 Wesleel 73.35 Mc-13 .11 Cominco 75 3 7 Union Cur 16.50 Midrim Cons Balh 15.00 Weston's B 7.000 Mogul 1J.OO Cons Ges 17. DO Woodward's A prices vVinnipeg Grain WINNIPEG (CP1 Rape-seed prices all advanced slightly in a moderate volume of exporter buying at mid-session on the Winnipeg Commodity Exchange today. Flax prices declined slightly after quotas were increased but oats and barley were firm on domestic shipper intercsl. Rye prices advanced fractionally in a light trade. Volume of trade Tuesday 548, 000 bushels of flax, of rapeseed and of rye. MID-SESSION PRICES: FLAX: Now. 1 higher 3.57A, Dec. 2 lower 3.33 V4B, May 1 lower 3.39 July 2 lower 3.34 %B. Rapeseed Vancouver: Nov. 1 Vi higher 2.84 VtB, Jan. 1 higher 2.81 March 1 higher 2.78B, June I higher 2.72B. Rapeseed Thunder Bav: Nov. 14 higher 2.53 V2B, Dec. higher 2.54 %B, May higher 2.63 Vt, July 2.61B Oats: Dec. 'i higher B7 5jB, May Vi higher 90, July not open. Barley: Dec. lower May unchanged July not open. Rye: Dec. higher 1.21 May higher 1.27 A, July not open. Grain quotes Tuesday (basis Lakehead High l.ow Close Flax Nov .155-t, 356'.2 Dec 3.16 333 >z .13C, May 34 Hi Ml Jly Rapeseed Vancouver Nov 283 '-2 282 2B.1 Jan 280 277-lj Mar 277 27-1 277 June 272 270'. i 271 Kapesecrl Thunder Bay Kov 253 253 Dec 25334 25314 May 262n.i 261-Vi Oals Dec 87H 37 '7 R7'i May B9'7 R9'2 391.1. Jly an'i Barlny Dec 12-1'j 12-1', 124'i. May 12G'i Athonn .11 Dom Bridge 30.75 Zenith Elcc 3.10 New Calumef .25 Domtar 16.3A-i BANKS W. Horse Copper 220 Dom Tcxlle a. 75 _. rc. osisko -a Nova la ,5 Pine Pnlnl 5B 1JV, Dofasro 78 W Royil, jj 7S 17 7.S Coble IB. 75 Tor-Dom 33.75 New York stocks (Supplied By SecnrlLlefl of Canadi) Amr T and T Golds 1M.03 up 1.fl7 Anaconda 19. Texas Guir 11B.OO 10 Base Met W.OO up .11 Beth Sleel 2B Texas Co 15 W Oils 255.67 up 1.47 Chrysler 35.00 WicVcs 75 B7'.j Volump Comsat 59.00 Woolworth YORK AVERAGES DuocnT 171.25 Elec 30 Indus 7B5.17 up .37 GM 79. 62Vi U.S. Sleel 30.00 20 Rails 22-1.39 Up 1.2B r Gen Tel E et IS Ulililies 120.02 up .23 Kenn CofTper' TORONTO AVERAGES 65 Slocks 321. BO up .iU Montgomery Ward 20 Indusl 210.S3 up .85- Volume near in hydro strike MONTREAL (CP) A meeting of Hydro-Quebec and union representatives with government mediator Yves Dansereau in preliminary attempts to get contrac talks under way again broke up at about a.m. today. A Hydro-Quebec spokesman said "it is not possible to make any comment on the preliminary talks." "We should have somelhing to say aboul it laler probably in the early afternoon. The strike by of the public utility's employees enters its third day today. In Quebec City. Jean-Noel Lavoic, national assembly Speaker, turned down a Parti Qucbecois request for an emergency debate on the strike, saying it would be premature. Longest-lasting of the power failures has been in Ihe Montreal suburbs of Cote St. Luc and HampsLcud wlwrc people have been wilhoul electricity since a power shovel severed an underground cable Monday. J J i_j jys By Gene Lethbridge Livestock 1 Supplied by Canada Department of Agriculture) On offer to 11 a.m. 425 cattle and calves. Receipts about evenly djvid-ed between slaughter and replacement cattle. Trade active. Good and choice butcher steers meeting good demand, prices strong to 25 cents higher. Good and choice butcher heifers 25 cents higher. All classes of cows under pressure, prices SI. 50 to S2 lower as compared with last week's high. There were insufficient replacement cattle sold early to establish reliable quotations. Choice steers 35 to :ifi; pood 35.50 to 34.50. Choice heifers 33 to M; good 32 to 33. Good cows 22.50 to 24: medi im 20 lo 22: canncrs and cutters 15 to 13.50 Good feeder heifers 34 lo 36.25. Good stock heifer calves 36 to 3H. Butcher hogs sold Tuesday Lethbridge 35.90 to 36.45 base jficc. Good lambs 21 50. Calgary livestock CALGARY CCP) Rcccipls on the Calvary livestock market to 11 a.m. lotalled hcwl, mostly slaughter steers and heifers. Trade was aclive. slecrs were fully steady to strong with sales to 36.60. Heifers were steady with cows lower and good kinds scarce. Bulls were (n lower. Choice slaughter steers 35 In 36.50, good 33.50 In 34.75, medium 31 to 33. Choice heifers 33 lo M. Good 32 to 33, medium 30 lo 31.75. Good cows 23.50 lo 24.50, medium 21.50 to canncrs nnd cutlers 18 to 21. Good bulls 26 In report Replacement cattle were mostly heavy, short keep sleers weighing 900 lo pounds and selling steady. Insufficient stock cows sold to establish a market. Good feeder steers more than 750 pounds 34 to 36.40. Good feeder heifers 32 to 36.85. Hogs base price 35.50. Lambs wre steady Tuesday wilh good kinds seeks loan lo cover debts TORONTO tCPi Newfoundland Premier Frank Moores said Tuesday his province intends to raise million in the Canadian capital market to roll over existing debts, cover existing obligations and allow capital spending, Mr. Moores was in Toronto with several provincial cabinet ministers lo speak lo investment dealers about the forthcoming issue. The province recently raised about S30 million in West Germany with a 100 million mark issue. Mr. Moores snid he received no comment from (lie Canadian government on tho European issue, rr ade after Ottawa encouraged the provinces lo borrow in the domestic market. Mr. Moores .said Canadian in-vnsLors show little confidence in Canada in their investment decisions, rnnrnnlraling only on the in which thoy hvn or are finan gain control J powers in Canada counlrv we have people In high places' tolling us its ft good thing lo be sold out." "Il's the most hypocritical thing thai ever happened." He said Ollnwa was bankrupt and out.side financial powers were five times more powcrfii than Oltawa itself. "They own Oltawa." He snid invcslinent dealers in Canada have no interest in li-nancing small businesses. He. rilled Ihc petroleum industry a tm'i'away, sayinp foreign inlcr-cs s spent billion in Canadian oil resources. "We've become a society of individuals with a high priority for indifference. Unless we change, Ihis nation will not sur-v vc." hn said. powers have gained control of Canada lo the extent that the country may pass out of existence. Percy Bishop, a Toronto [inancier, said Tuesday lie told a Halifax service club that "unless we do somelhinR. and do il soon, Canada will i pass out of existence.'1 Mr. Bishop said: "In Canada we have been brainwashed lo accept financial control lo Ihc extent ol 80 to !W per cent by the United States. In any other counrv nf the Including the United you'd have revolution if the foreign control went as high as 20 per ccnl." He said that "across Ihis workers turn, down 3-day week SARNfA, Onl. (CP) Shlfl workers at Ihe fmperial Oil Ltd. refinery here have rejected a proposed three-day work week by a vote of 62 per cent. E. R. Wnrron, employee relations mnnager, said today that 309 of the 327 eligible workers voted on the issue. The vote was held al Ihc employees' reqiiesl. Under the proposal, workers would have been paid for 3O hours n week instead of the prcsenl 10. Manngemcnl hntl also nskral that employees be on call for their first shift nlf lo replace those on sick Beef I'u Lures WINNIPEG fCP) Live. beef futures close Tuesdav. Nov 35.25B; Jan. 36. JOB; March 37.00N. No contracts 1 Dollar value MONTREAL TCP) U.S. dollar in terms of Canadian funds at noon today up 3-32 at j M.OfMi. Pound sterling up aii at I NEW YORK dollar in terms of U.S. funds at noon up 1-32 at 25-64. Pound sterling down 31-M at M.35 NOW THE DEAF DUMB CAM MAKE TELEPHONE CALLS, EVEN IN A PHONg BOm WITH A NEW MORSE-CODE INSTRUMENT CREATED BYAN ITALIAN'INVENTOR. WITH THE PHONE PLACED ON THE UNIT, THE.YIESSASE IS TAPPED OUT WITH AKEY.., SNOWMOBILES Franchisee! Dealerships AVAILABLE! No investment necessary Minimum facilities required CALl COtlKT SALES MANAGER MOTO-SKI Edmonton Dry 121 121 121 May 120' 120 '.4 Jly ml in car demonstrated NKW DEUIT (API Prime Minisler Indira Gnndhl's son, Sanjay, is demon.straling an all-Indian cnr rnllofl the Maruli nt the Asian fnlornalional Trade Fair. II will KU next year nnd is exncrUfl to deliver nearly 50 miles lo a gnllon of gas, which frlmul fKl rpul.s in NORTHWEST I Ji. LIFE ASSURANCE COMRftNY OF CANADA j2Sfc For a confldnnllal diicuiilon call or writs Dick Bmoman, 1514 12 N. Ph.: collapses BANGKOK, Thailand (Rcu-ler) A newly built three-slorcy hotel collapsed In Ihe provincial capital of Nnkhon i Snnwnn, killing nl lenst seven people. Others were feared burled under Iho brick nnd con- 1 crota debrlR. THfOUtffKEMHO THCCAIL fSOetf, OUT WEMfSSASf Of, ;