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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 9, 1972, Lethbridge, Alberta mines, industrials (Supplier! By Hichirdson Securities at no B Ifcltkl KH N BID OR SALE a.m. Quolel) (HiOO a.m. Ovolesi (ll-.OD a.m. OLJOIBI) MINES Oilsko .It Calls 1B.2S Acme -31 Pine Point 2B.OO Ford of Am environment Market drop sh TORONTO (CP) Prices on the Toronto stock market, continuing to follow a patlern set Wednesday, slipped sharply lower in active mid-morning trading today. The industrial index, considered a major inh'cator of market trend, was down .81 lo 208.33 and western oils .24 to 253.06. Golds, however, were up .20 lo 181.38 and base metals .05 to 83.85. Volume by 11 a.m. was 1.02 million shares compared with 1.06 million traded by the same time Wednesday. Communication, merchandising, pipeline and industrial mining stocks were sectors of arply market recording the mos losses while chemical and rea estate issues were the only sec tors managing gains. Advances held a slight lea 75 Dorro Mine! 60.011 INDUSTRIALS Mel_Slores EasuWaTarllc 2.15 Alcan Moore Corp .19.50 East Sullivan 2.00 Algoma Slee Molscns A 29-25 FaJconbridgs J5 DO Atco Ind 10.50 Mclsons B 20.00 .37 Allantlc Sugar North t, Cenl 12.00 Firsl Marlllmes .50 Agra Ind 13.00 Power Corp 12.87' Giant Y K. 6.50 Bell Te 4375 Price Co 11.75 Bovis 2.10 Brazil Trac Rahmans Granduc 2.B6 B.C. Te ic.00 St. Law Corp 1975 Headway R L 3.50 Burns 19.03 Shell CDA 54.00 38.00 B.C. Forest 20.25 SimpiSn's 28.00 Hudson Bay M-S 19 B.C. Sugar 19.00 Simp ScerJ 40.00 Hydra Ex. -18 Bow Val Ind 37 Steel cl Cda 32.50 Iron Bay 3.55 CAE Ind 9'25 Selkirk A 12.75 Iso 4.75 Cdn Brew 5.75 Texaco 54.00 Joliel Quebec -22 Chemcell 3.50 Traders Grp A 20.75 Kerr Addison 9.35 Calgary Power 26.75 Trans Pipe 22.25 Key Anacon tfl Coron Crcd 1 1.65 Trans Cda Pipe 46.75 Labrador 39.75 C.W.H. Gas PId Union Gas 12.00 Lake Shore 2.60 Cdn Induslrles 16.25 Union Oil 51.00 Lonqis Silver .05 Cdn Marconi 4.75 Versalile Mfg 6.37' Madsen R L .64 Ciln Vickers 10 Weslecl 23.2! Malarlic G.F. .8t Chrysler Union Car 15.75 Martin McNctly MV, C.P.H. 74.10 Weslwi's B 19B7V Mela 11 Cominco 25.37'A Woodwards A 27.00 Mldrlm Cons BElri 15.00 West Cdn Seed 6.00 Inlern Mogul 11.75 Cons Gas 17.00 Zenilh Elec 3.15 Nu Wtst Homes 9.00 Dlst Seagram! 36.75 BANKS New Athona .12 Dom Br dge 30.25 Cdn Imp 28.12V New Calumel .22 Domtar 16.50 Mmlrcal 20.75 W Horse Copper 2.35 Dom Textile 8 Nova Scolia 39.25 Noranda 39.75 Dom Slores 14.25 _ 35 sa Norlhgale 4.to Dome PC e. 33.00 Uorlex .'-2 Dotasco 2B.OO Tor-Dom 33.12V Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, McCualg Limited) LAST BID OR SALE a.m. Ouolesl B.m. Quotes] a.m. Quolesl WESTERN OILS Husky Oil Gr In Shares 4.25 4.61 Alminex 5 90 Husky Oil B 43.00 Gr Equity SUB 93 Alia Easl Gas 7.50 Husky Oil War 4.40 Invesl Gr F 12.36 13.5 Asamera H-25 Inter Prov Pipe 12.75 Invest Mutual 5.87 4.4 Ashland 12-62V1 inler Prov Steel 15.00 Mutual Ac S.OB BP Canada 16.25 Kaiser Res 2.25 Mutual Gr T 407 5. Can Soulh 7.BD Loblaw PId 32.00 Nat RK '.47 8.1 Cdn Ex Gas 3.BO MGF Manage !.SH jj W Cdn 5.39 5.! Cd" lndmGasd Oil Raiiie'r Principal Gr s.] Cdn Long II .36 JfleUynt 410 Charter 15 while Yukon 11 "0 Universal Sav 7 99 B.i 3B.25 Wesllleld 1.05 Van9UvAdNCOUVE8R7 Gt Plains 31.87W Weslon PId 62.50 AMINES Gt Cdn Oil .8.30 CALGARY AFIon 7.25 Lochiel 2.05 .B2 .n Norlh Cdn Oil 6.10 Oil .0311 Balh Norse .73 I'umac 19.00 North ,olya Brenda 3.6! Psncdn Pele Wcsf warner 33 Churchill Copper .50 iSf Pinnacle .36 "as Dankoe .40 Place Gas -81 r r Dolly Varden 30 Ponder 50 f Dynasty 8.15 Ranaer Gas 11 8714 Scurry Rain 17.00 Jj and L njun ja Seilsns 14.00 ,Tran! GraislB 5.75 Toltl 0 40 Gal Loraex 7.00 Ulster 1.20 Ploe JITS 1-ro W DecElla 6.00 Tr.ns Cda Pipe 4575 West Pele 10.00 Tram Cda B 39.50 MISCELLANEOUS "d War S fo INDUSTRIES wc Trans 2127'.'! 750 Aquilaine 25.25 WC Trans Wts 5.15 INDUSTRIAL Brinco 5.75 MUTUAL FUNDS Block Bros 2.70 Cdn Brew A 28 25 Au cdn Vent B 40 9. IB B.C. Sugar 19.25 Cdn Brew B 35.00 AM Div d 9.19 10.04 B.C. sugar PId 14.75 Cdn Pacific Inv 22.50 Cdn Venl 4.29 4.69 Capt mil 3.70 Crowsnesl Ind 2512Va Amr Gr F 6.52 7.16 Col Brew 3.25 Cyqnus 0 6.75 AGF Spec af 3.3S Crestbrook F Ind 3-00 Fa'lcon Copper 11.50 cdn Invesl F 1.41 1.63 Hys 3.40 Genslar i5.12'A col Mulua 7.10 7.80 Key Indus! .5S Horns A 38. cmnw Inler 14.es 16.33 pacific W Air 2250 Homw B 38.00 cmnw Lev 4.11 4.5] stampede Intl Res .63 Hud Bay Co 17.37V2 Cmnw Vent fl.C? B.B9 C'.LS Hud Bay Oil IS 25 CcTP Invest 6.1.1 Oil .75 Hud Day Pfd 57.37Vi Corp In St F 5 !B 5.77 Plains Pete Hugh Russell 46.00 Dreyfus F U.S. 13.11 14.37 West Explor .06 New York stocks (Supplied By Richardson Securities ol Canada) Amr T and T 49.25 Sears 11275 20 Golds U1.42 up .30 Anaconda 19.25 Texas Gull 118.00 ID Base Mel S3.8! up .05 Beth SIM1 2B.62V4 Texas Co 36.B7V. 15 W Oils 253.69 dl .51 Chrysler 35.00 Wickes Corp 25.50 Volume Comsat 5J.25 WcWworlh JJ.OO NEW YORK AVERAGES Dupont Elec 43.25 30 Indus! 977.B7 oil 5.BS GM 79.62VJ U.S. Sleel 30.12'A 20 Rails 221.21 off 1.77 Gulf 24.00 Gen 29.00 15 Ulililies 118.70 ofl .98 Ke'nnHCoppe'rr 22.M TORONTO AVERAOES 65 Slocks 31B.67 oft 2.20 Montgomery Ward 26.7S 20 Indust 208.36 ell .28 Volume fCP) Governments and big businesses are not "just a headless, faceless says Bob Holmes, whose company uses space-age techniques to help industry avoid damaging the ecology. "These people are concerned with the environment. They breathe the same air I do." The Alberta-born scientist said there now is more reason and less emotion in Ihe approach to environmenlal problems and the importance of research is being recognized. Dr. Holmes heads ERA In-slrumenls Lid., a Calgary-based consulting firm which applies detection techniques developed for mililary purposes to the peace-lime problems of environmental research. He said the modern environmental scientist is making increased use of such sophisticated tools as aircraft, computers and false color infra-red photography. Infra-red photography first was used during the Second World War as a reconnaissance technique, operating on the principle all objecls emit kinds and levels of light radiation.' "The film and instrumentation has been greatly refined since then hut this technique is slill a relatively new tool for He said the technique now helps to gather information on plant populations, land use, soil texture and a number of other ecological data. It discloses areas where vegetation is being affected or "under slress" from factors such as air pollutanls or insect infestation. The film will show you where the trouble is but it doesn't reveal the you still have to go out there and make an eyeball assessment to determine Dr. Holmes said. The firm also uses the line scanner, an experimental device which records ground emissions on magnetic tape which can be interpreted to indicate the cause and location of slress. Commissioned to do a five-year study on the environmental effects of sulphur emissions from natural gas processing plants, the company hopes techniques will help Identify and correct potential environmental problems before permanent ecological damage occurs. The program Is on behalf of Ihe Whilecourt, Alia., environmental study group, an organization supported by eight companies. "There is a serious lack of data on Ihe environment said Dr. Holmes, who spent more Ihan 10 years as a sclen-lisl with Ihe federal government. "We can begin to develop some guidelines hut at the end of the five-year study we should have a mass of information on which to base realistic legislation." Dr. Holmes says preliminary studies in the Whilecourt forest area in northern Alberta, where sour gas processing plants have oneraled for up lo 10 years, indicate no permanent damage as a result of sulphur emissions. However, he said, there is an area in the Cypress Hills of southern Alberta where a train of six wagons came up from Billings, Mont., in 1946 and the tracks still are visible. Livestock report Calgary livestock CALGARY (CP) Receipts on the Calgary livestock market to 11 a.m. totalled head, mostly slaughter steers and heifers and stock calves. Trade was active. Slaughter steers were fully steady to 25 cents higher" with ousted helping to promote development of business and industry. Mr. Dohm presided over the VSE during Its biggest volume days. He Increased the exchange's fees for listings and othej services, bought in management consultants to examine staffing and procedures and set about weeding out companies which had not lived up to Exchange requirements. exi VANCOUVEFv (CP) -Thomas A. Dohm was out as president of the Vancouver Stock Exchange Wednesday as a result of an impasse between lu'm and the exchange board o governors over his acceptance of a directorship with the Bank of British Columbia. The governors felt there was a conflict of interest between his duties as the professiona head of the Vancouver Ex change and those as a bank di rector. The Bank's shares are traded on the VSE. There was a difference In statements over the method of his departure. The governors said Mr Dohm had resigned as a resul of the impasse. Mr. Dohm said the governors demanded he resign his bank directorship an( when he refused they demand ed his resignation. Mr. Dohm was adamant tha there was no conflict of interest and said in an interview Wednesday night that the gov ernors had "over-reacted." His departure from the presi dency, reported to pay a year, leaves the VSE without a top man for the second time in just more than a year. His predecessor, John A. Van jUVcn, resigned in October 1971, after a clash with the governors over policy. Jlr. Dohm resigned as a jus-ice of the B.C. Supreme Court o accept the VSE presidency and took over last Feb. 1. He had undertakne a considerable re-organization of the 'SE and ils operating rules arid was considered by the bus-ness and financial community o have brought the exchange new prestige and direction. Temporarily, the exchange will be headed by George R. Vright, chairman of the board f governors and manager here or Richardson Securities of Canada. Mr. Wright, in a statement ssucd on behalf of Ihe governors said: "Mr. Dohm has terminated his employment with :ie Vancouver Slock Ex-hange; he has given us his esignation. "Mr. Dohm is an honorable man. He feels he is right. As as as "Lhis industry is he B.C. in the remote possibility of something there being a conflict of interest I would abstain from voting on that matter." Mr. Dohm said that the bank and the Exchange had been considering joint operation of what he termed "some mechanical things." He would not elaborate. The president said he considered the exchange and the bank had similar objectives in ers were 25 highers with sales to 34.60. Cows were barely steady and bulls steady with the week's lower levels. Choice slaughter sleers 35.25 to 36.60, good 34 lo 35, medium 31.50 to 33.50. Choice heifers 33.25 lo 34.20, good 32 lo 33, medium 30 to 32. Good cows 23.50 to 24.50, medium 21.50 lo 23.25, canners and cutters 17 to 21. Good bulls 26 to 27.50. Replacement steers and heifers were scarce with mast kinds in the heavier weight ranges and selling at steady prices. Stock calves met a good demand at steady prices. Good feeder steers more than 750 pounds 34 to 38. Good feeder heifers 600 pounds and up 32 to 36. Good slock and feeder cows 22 lo 27. Good stock sleer calves 44 lo 50. Good stock heifer calves 35 lo 40. Hogs base price prices Winnipeg Grain WINNIPEG (CP) prices were up slightly on small commercial interest at mid sesion on the Winnipeg Commodity Exchange lo-day. Flax prices were off fractionally on exporter and commission house trading while oats and barley worked stronger on domestic shipper buying. Rye prices were fractionally lower after good selling by a large internalional house early in the session. Volume of trade Wednesday was bushels of flax, of rapcsced and of rye. MID-SESSION Flax: Nov. lower Dec. Vz lower May lower July lower Rapeseed Vancouver: Nov. 1 higher 2.85B, Jan. higher March higher June 1 higher 2.72. Rapeseed Thunder Bay: Nov. Vi higher 2.54, Dec. "s higher May higher July higher Oals: Dec. unchanged May V, higher July higher Barley: Dec. u n c h a ngec 1.24UA, May unchanged 1.26UA, July unchanged 1.27J4. Rye: Dec. lower May a; lower 1.261JA, July not open. WINNIPEG (CP) Grain Grain quotes Wednesday (basis High Low Close Flax-Nov 357 354 355 Dec MS 332 'i 333 May 3JI 337S 33D3i Jlv 333 334 Rapcsccd A7alicouver Nov 283 284 l.-.n 2315.1 273U 279ii Mar 275'.! 277 June 272 271 nariescod Thunder pro to cut gas lej OTTAWA (CP) Health officials and environmentalists have welcomed proposed new federal regulations to reduce lead content of gasolines, bui gasoline manufacturers want time to study the proposals before commenting. Environment Minister Jack Davis announced Wednesday that regulations would be introduced under the Clean Air Act so that, after Jan. 1, 1974 no gasoline manufactured or imported for use in Canada coiid contain more than 2.5 grams of lead per gallon. Dr. A. B. Morrison, assistant deputy minister, federal health protection branch said lead levels in the atmosphere in several American cities have been shown to have increased in recent years and about 98 per cent of the lead in air comes from leaded gas. "Anytliing that will reduce these levels is he said. Officials of Pollution Probe and of the Consumers' Association of Canada said they were glad to see the federal government had taken action. LEVELS VARY Present lead levels in gaso-ines vary, from about one gram n low-lead gasolines now coming on the market to about four grams per gallon in premium gasolines, said Dr. S. 0. Winth-rop, director general of the environment department's air pol-ution control directorate. In Toronto, officials of laws id content Oil Ltd., the only company selling no-lead gas in Canada, said they wanted time to study the proposals before making comment. Officials of Imperial Oil In Toronto and of Petrofina Canada Ltd. and Texaco Canada Ltd., both In Montreal, also declined comment immediately. Murray Long, Pollution Probe's communications co-or-dinator, said reduction to 2.5 grams "is a pretty small step but at least it's a step." Pollution Probe uses a propane-powered vehicle for its work, he said. "It's definitely less both because there is no lead and because exhaust emissions are minimal. PRESENT LEVELJ3 SAFE Dr. Morrison said there is no danger of lead poisoning from present levels in air In Canadian cities, but the removal of a potential hazard was welcome. Although lead poisoning from air has not been reported, lead poisoning from lead in paints and glazed pottery was a health iazard until these were recognized and prohibited, he said. Lead remains in the atmosphere for a considerable length of time and also settles into the soil. Dr. Morrison said lead is found in higher quantities in soil in cities and along highways. From Hie soil, the lead will be aken up in plants, including food plants such as carrots, he said. Hog prices EDMONTON (CP) Aver-age prices to 11 a.m. provided by the Alberta Hog MarketiDg Board: Edmonton: 35.65, average Wednesday 36.22. Red Deer: 35.65, average Wednesday 35.84. Calgary: 35.65, average Wednesday 35.59. Lethbridge: Nil average Wednesday 35.95. Grande Prairie: Nil, average Wednesday 35.35. Total hogs sold 652, average 26.25. Total sows sold Wednesday average control both houses in Montana HELENA. Mont. (AP) For the first time in eight years, Democrats will control both houses of the Montana Legislature. Based 01 incomplete and unofficial returns from the stale's 23 legislative dislricls, Demo-cra'.s apparcnlly will hold a 52-43 lead in the House of Rcp-resenlctives and a 30-20 command of the Senate. The Democralic parly Iras jeen in command of (lie Senate since the 1957 legislative m for mutu TORONTO (CP) The mu-lual funds industry, "sleeping qiaiit" of the investment field, is preparing to emerge from a Ihree-vear slump into s period of new investor interest, say seme fund end al hind to decline along with lliose of the stock market in mid-1969, but the funds didn't revive as did the stock market in mid-1S70. Executives hope the expected revival in interest will be slim-ulaled as a result of Dollar value MONTREAL (CP) U.S. dollar in terms ol Canadian funds at noon today unchanged at Pound sterling down Vz at NEW YORK (CD-Canadian dollar in lerms of U.S. funds al noon unchanged at Pound sterling down 33-6-1 at Gene A PARACHUTIST'S INFLATABLE LANDING PAD FOOTMAYHELP AN ENLARGED OVERSHOE, IT'S INFLATED ON THE WAV DOWN BY COMPRESSED 96 WHEN A VALVE IS PUSHED BYTHE OTHER 253'i Dec 2537H May Jly 261 as cveryman's investment in Ihe 1950s and most oJ (he 1960s, have had liltle or no growlh hi Hie last three or "our year hi lax law. The annual limit on conlributions lo registered savings plans now is up from before tav we (Ihe board of governors) eel there is a conflict; he in lis wisdom feels there isn't. "We all felt there had lo be ome solution to this ban SYDNEY, Australia (Reuter) Angry fishermen are absorbed through the lungs, ic said. Much liiglier levels can >o taken inlo the body through aii- levels. When toxic levels are CORRECTION WOOICO PHARMACY AD ON PAGE 12 OF WED., NOV. 8th LETHBRIDGE HERALD TOOTH POLISH ITEM SHOULD HAVE READ LUSTRE DENT Tooth Polish to Ml an EACH joeewen M me iMFs Jlv 90' s Uarlcy Dec 124'i May i2S'i Jly Ityr Dec J2l5i ]2ll'i May 127 1263; 126q Jly the industry adds up ils Iliird-quarler resulls, mutual :unds' execulives also are doing some self-examin.ilion. There lave been some changes in selling approaches, crealion of no-c specialized funds and same regionalization of (he in-cluslry's slniclure. "These Ihings arc nol happening by circumstance, but by says Michael Hell, ex-eculive director of the Mulual Funds Associalion C1IFA) whose CO mcmbcr-itnds rcprcscnl 90 per cenl of he industry's billion assets n Canada. "People nrc gelling 10 says, and others in the in-rhislry ngree that it is just a nailer of lime before customers flock lo the funds again. 'EWER OWNERS The number of people who own mutual funds, nbout is fewer Ihan in 1969. cash-ins by cxlsling hnve been nhc.id if new sales since Ihe boom pours of 19G8 and 19C9. Tho industry's fortunes of a capital gains lax makes funds more attractive because it simplifies bookkeeping for the James Prendergast, president 0[ United Funds Management, second largest mutual funds in Canada, feels lhal management has failed lo grow wilh the business and a lol of inefficiencies have crept in. He foresees however, a or-derly growth for Ihe funds industry. In the 1960s, mulu.ii funds were getting as much as 25 lo .10 per cent of Hie savings dollar. "Now." he says, "if wc Rcl 15 per cent, we'd he doing a good Mr. Wright said a committee nder the chairmanship of licliael M. Ryan, vice-ehair-lan of Ihe board of governors ud prcsidcnl of Ryan Invesl-icnls Ltd., will be looking for new man. lie said Mr. Dohm had offered lo slay until his successor named. "The board demanded that I csign my directorship of the ank ot B.C. I refused lo do lat. 11 was a point of principle i which we Jlr. ohm said. "They then nsked me for my csignalion. They went over-ward there's no olhc r word r it. They just ovcr-reacled the siluntion. "I have no vote nt Ihe nVn-ouver Slock Exchange. Them n provision for it in nn old but in practice I havo o vote. As for disciplining list-1 companies, thnt is handled ly n commlltcc of past presi-Icnta of Ihe exchange. "I have a vote at Lbo Bank that a regulation in he New South Wales Fisheries and Oyster Farmers A c I be scrapped. It prohibits singing or making a noise while tend-ng nets between sunset and anemia, mental dis-oriontation, voniilting, colic and, eventually, seizures and death can occur. Tile United Slates also has announced similar regulations or low-load gasolines for Jan. I, Mr. Winlhrop said. and several European coun-rics, including Brilain and France, also have announced regulations. OF PAPER In a 24-hour day, one modern paper machine may produce 700 miles of By TIIH CANADIAN PRESS Infcrnnllnnal Nickel Co. of Canada Mil., 25 cenls, U.S., Dec. 20, record Nov. 20. I'.icific Wrslcm Airlines Mil., pld.. Scries A, Dec. 1, record Nov. 20. Eleclroliomn cents, Nov. 30, rocon] Nov. 15. Trailers Group Class A, 20 ccnls; Class B, 20 ccnls; both payable Jan. 1, record Dec. 10; (a per cent pfd., Series A, live per cenl pfd., SO cenls; live per cenl pfd., Scries A, ,17'i cenls; ?2.1G pfd., Series B, 54 ccnls; nil payable Jan. i, record Dec. PAYS TO LEASE! Leasing your working capital leailng provides reliable transportation ar low coif You juil lign a contract and pay ONE regular monthly aLjcttatron