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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 11, 1971, Lethbridge, Alberta Gold moves up at mid-morning TORONTO (CPi Cold is-1 Interactional Nickel and Walker sues climbed fractionally higher j Coodovham all lost Jj to S.V1'2, while prices in all other major i a n d respectively. Cut duties on raw sugar report urges in Commons Thursday, November 11, 1971 THE IETHBRIDGE HERALD 23 Livestock report Calgary livestock .cllin: 0 T T A W A sectors of the Toronto stock market dropped lower in slow Granny Mining gained '.i to to Grain prices Winnipeg Grain mid-morning'trading today. On the American Stock Ex- The industrial index was down change. Canadian Marconi and ,63 to base metals .22 to! Jupiter Corp. both were up 70.-12 and western oils I.HI to and S7-V 195.25. Golds were up -M to HG.G1. Volume by 11 a.m. was 2M.OOO shares, down from MZ.OOO at the same time Wednesday. Declines outnumbered a d- 105 In 57 with 157 unchanged. Weakest of the industrial in- dex's 17 sub-groups was fond processin Other declining sec- tors were beverages, oil refin- ing, pipelines and slecl. Sixleen of the sub-groups were lower. Molson A dropped to Slll'i, Aquitaine ri lo S24, Canadian Industrial Gas and Oil 'i to S3, Northgate 35 cents to and Mr-ttagami to Canadian Superior Oil fell to Inco >i to Inter- charged hy Canadian sugar re- fineries should he reduced hy encouraging more competition from foreign firms, the tariff hoard says in a report iahlcd in the Commons Wednesday. The hoard recommended re- ductions in duties on raw sugar imports to lower the cosis to refineries and induce them to cut their prices. It also recom- mended reductions in duties on retired sugar to ensure that re- fineries' savings on production costs reach Ihe consumer "and In allow greater pressure from Ihe threat of external competi- tion." The 3ti2.-page report, ordered in by Finance Minister E. .1. Benson, stressed the high Prices 1 Gerald Snow, manager of (lie Canadian Sugar Factories Ltd. licet sugar plants in southern Alberta said hi.s company has no official statement at this: early time. Mr. Know said in the heel ;Holiday season oranges arrive WINNIPEG ICT) Grain quotes Wednesday (basif profits of Canadian refin- i erics, hi the sugiir refining 'ndustry had profits totalling per cent of sales. VANCOUVER iCP) The vessel Puna is due in Vancouv- er today with a cargo of 000 boxes of Japanese manda- rin manges for the Christinas market in Canada Experts of mandarin oranges to Canada this year are expect- ed to reach a record 3.8 million boxes. More mandarin oranges are consumed in Canada than any country outside .Japan. national Utilities 'i to CP Ltd. 'I lo Jli'.s and Dcnison U to S20. Canadian Imperial Bank climbed 'i lo Electro- home !j loS-IO'z. Slater. Walker "4 lo S7 and Crush International U to Noon Stocks MONTREAL (CP) Prices High Low Flax N'ov Dee 233 232'2 May 242 241 Jlv 245 244 Uapcsfpd Vancouver N'ov 265'2 2fi7': 2( Jail 27.1-4 2707B 2' Mar 272 269', 2', June 2C Rajicsrrd Thunder Bay Dec 256'i 234-'i 2: May 2G2-.I Jlv" Oats Dec fifi'a i May fi7'j B7! i Jiy" Barlrv si-gar industry there certainly is no 10 or 19 per cent profit. "This figure can't apply here. It noted that the difference between the refiner's selling price and the cost of his raw sugar was a hundred- weight in Canada in 1970. while i Canada in January. I9H, British refin- Alberta, ers had limited themselves to a 51 .CO difference. The beard recommended free entry fcr raw sugar under British preferential tariff and a substantial reduction in the mtist-favored-nation tariff. For semi-refined Kind refined sugar. both tariffs also would lie re- idmtisi all came from raw sugar imports. Imptirls of refined sugar have no' gone shove three-tenths of one per ctnt of total sugar consumed Only 2iili million pmind> ot beet sugar was produced in 970, most of it in calves less than 400 pounds lo more than 400 [rounds to 44, (iood slock heifer Hog The hoard rejected argument.1. thfi: tariffs shrink! main- tained to proteci sugar beet growers in Carada. The report said: "f( would seem appropriate to finance any es.-entinl support to the sugar bee! from general taxation, rather than hy a nit-thud which raises the price It estimated that refinery i to all Canadians of one of the cost.'; for raw sugar would be least expensive foodstuffs and reduced hy 61 to 75 cenis a i which, in consequence, v.ouki hundred pounds through its roe- place on consumers a burden which wuul.i lorm a relatively larger proportion of lower )han higher incomes.'' duced. Miscellaneous quotations Vancouver, Calgary, Montreal (.Supplied hy Doherty, Roadhouse and McCuaig) LAST BID OR SALE 111.00 a.m. WESTERN OILS A-hlflnd BP Oil Ga Can South HurKy OH Husky Oil B Husky War A Ccln tnd Gris Oil Lake Dufa Kvr DPC May Jlv slumped in all sectors except; Dec papers in light morning trading i May on the Montreal slock market I Jiy today. On index, industrials were off .58 to 166.M, utilities .52 to banks .41 to 2U5.17 and the composite .55 to Kiii.iiS while panel's were up .251 to Combined volume on the Montreal and Canadian stock exchanges at 11 a.m. was 17.CCO shares crompared to 192.COO at the same time Wednesday. Highlighting gains. Canada Malting Co. was up '2 to S231z. Great Lakes Paper Co. to SH1: and Magnasoni? Canada to Asbestos Corp. was off to Sffl'i. Noranda '4 to Steel Canada !i lo i ai-d fir.pcrial Oil to Wall St .Noon NEW YORK (APi Stock prices continued in a tailsptn today and analysts attribuicd the decline to investor uncer- tainty about the economy and Ihe stock market itself. Trading was moderate. The noon Dow Jones average of 30 industrials was down 5 at 321.12. Among Canadians on the TvVSE. Mclniyre Porcupine was down 1 to and Dome Mines. I (15' 102 Yukon CALGARY V.'ar; r? ;i PIPELINE STOCKS Alia Gas L A -17.25 C-3-. Tr I. Pfrj 77.5? Alia Jl.iO inland inrl C No Liquor licence sought ommenciations. The heard sug- gested, however, that in view of the "very high profits'1 of Cana- dian refiners, consumer prices could be reduced to a greater extent. PREFERENCES LI' COST The beard estimated that the British preferential rates ami a "preferential premium'1 paid for raw sugar from countries entitled lo those rates increase the coat of refined sugar in Can- ada by about a hundred pounds. In total. Canadian consumers paid about million more a year for rt'fined sugar than they would without British preferen- tial duties on suaar. Jn 1970. Canadians coiwumwl 2.1ol hillicn tons of sugar, mci'e than 100 pounds a person, and classes s CAU1AHY [CD Receipts (loorl (tedrr steers VJ to M r.. on the Calgary livestock mar- Root) feeder In ;j2.lf) lo 11 a.m.. about IJWJ Good stock and feeder head; mostly good ami choice1 to 21 'iuod slock hU.-er slaughter steers and cows wilh a good local and eastern de- mand. Slaughter sleer.s were fully .ilffKly to 2'} cents higher: heif- ers wore steady; were mainly medium and cfmnf-r at prices steady with the low. Hulls steady. Good bulls to W. Replacement cattle mosllv stock calves with all PAS.SKNGKK.S I-'I.EE rlt UT CALAIS. France- lAPi A large novercrait headed for lOnglanel was damaged in heavy seas and 147 passengers were taken aboard lifeboats and broughl to shore. The1 craft, wilh 23 vehicles aboard, drift- ed onto the beach at Sangatte, soul Invest of here. There were no injuries 'ginal farms plan in o those farmers 50 can icmaJn on their land. The government i.s conferrinp with Canada offi- cials retraining and job opportunities for those who wish to leave their he gold Pfd 13 Beef In hi res Live CALGARY The Hud- son's Bay Co. hR.s opened a li- quor outlet in its department .store in Winnipeg but has not sought permission for a similar move in Allwrta, company offi- cials said here. The Bay has merely sent a letter to the Alberta Liquor Control Board informing it of what has taken place in Mani- toba. said H. E. Dunn, manager of the Calgary store. The mezzanine-floor outlet in Ihe Winnipeg store is staffed hy eight uniformed female clerks, observes t h e same hours of business as the store and emphasizes the sale of wrne The Canadian Press errone- ously reported Wednesday that V ft-Wi West MISCELLANEOUS INDUSTRIES Aauataine Rrinco Cdn F Cytinui Tor on to Tr Ctfn Tr Cdn Tr Cdn WC Traps 2'. MUTUAL FUNDS _ Ail Ctln Coin 7 77 P .19 B.C All Cdn Divid 8.73 9.5.1 B.C Ail Cdn Gr AGF Spei -xk CoppT Res INDUSTRIAL Pfd 3.78 Capl 5 7? 6.2E 7.H Key I Cdi In -i.75 Hys Col Wutuel Intt-rit Crv.rr.v inlrr Cmnv; 3.C3 Okanfl Ccrri Invest 5.C9 5.5ft Pacifii Corn In 51 F 4.42 ,s.OS Stampede Inll Res Dreylus F U.S. n.3S 12.44 OILS Shares 3.12 a.-i? Albar.y Oils Bret' By Gene Fawcette TJE OF WOOD MELLWEP BYN'EARS OF NATURAL i CAM 3E QJIOCi-Y CREATED IM'H i j OFANia'' i CLEAR, LlgUIP. BRUSHED ON RAW LUMBER THEN RUBBED A CLOTH, EDMOXTOX 'CP- A pack- age program to improve the financial position, livinp stand- ard, availability of land and market opportunities of Alber- ta's marginal farmers may be introduced by ihe government. Dr. 0. R Purnell. deputy agri- culture minister, sain here. Dr. Purnell said although Al- berta fanners "on the average" arc better off than many across the country, there are a feu' in the province who oner- ate1 borderline farms, The-ce marginal farms, loca- ted in poor land areas with in- adequate water era'c on a gross annual reven- ue of about S3.000 providing a net income of [or their operators, he said. The economic Council of Can- ad? has set (he poverty level c! for a couple of S4.000 famadvicefonP successful-: of Ule Arc1ic Sca- e5Peciail.v the Discover i in ihe Aivli Mari- time potato futures: No trades JDatairon d stems 1003 Avenue 5., tethbridge Telephone 328-4426 MOSCOW Renter i Soviet scientists have iound guki on the bed of the Arctic Ocean. Ts.'-'s news agoncy said Tiiurs- riay. The explorers mem- ol' an Arctic expedition. Tass said they mapped oiu pronii.sing regicns for gold arid lird Dc-t'f L'-l.'Ki. sverjipp Calory: No sale-, lyjlhbridge: No .sales, svpv- U'i'dne.sday. Llouhniii.su; No eraen Werlnfsd.'iv. liops sold 171. tctaJ JICE? sold Wednesday n.777, averapp Sows averacf Toyola dickers for inlfiTcst in car plan! TOKYO Japan's largest car- maker, saui Wednesday il ir considennp acquiring about a interest in Canadian Mn-or IndiNt.rie.1-. a Canadian car a s e m h 1 y factory, tn the laHer's facilitie? for cars Toyota said it is negotiating wilh the Canadian finn ar.d Mit sui and Ltd.. a leading Jap- anese trsdinp house, which owns PO per cen; of CMI. CM I i> a.spejnhling Toy- ota cars on a system ai ;i monthly rate of 100 units in its Sydney. N.S. plant. Toyota the ownership ?.rd expnrsion plans are designed in sidestep possible future moves in Canada fo limit car imports. Toyota has become top car tin reserves in the coastal zone exporter lo the Canadian ket wilh -Uino to 5.000 Chukotka and east Siberian re- monthly, outstripping Nissan gions. Motor and Volkswagen. SPECIAL CATTLE BREEDING SALE at WALSH, ALBERTA, SATURDAY, NOVEMBER 13th at 1 p.m. ON SALE: 400 Bred Yearling Heifers 250 Bred 2 Yr. Old Heifers 250 Young Stock Cows These numbers include: 90 head bred to Murray Grey Bulls 30 cows bred to Simmentol Bulls Most of the yearling heifers bred to Built Auctioneer: KEN HURLBURT Lie. No, 274 Sponsored by WALSH CATTLE MARKETING A5SOC. 93.50 10 Baso Met 70..12 j 15 W Oils 195 ?S off 110 113 C'i Volume 79J.OCO YORK AVERAGES 30 Indus! 831.77 off J.S3 IT PAYS TO LEASE! Leasing frprs your working capital lent ing provides rpliablft trans port a I ton at low cost You just sign a contract and pay ONE regular monthly ftt Your lonsci can includp maintenance, liccnco and insurance covnrano Contact BORIS KORESHENKOV, Lonsinc, and Insurance Depl. BENY AUTOMOTIVE ENTERPRISES LTD. 2nd Avp., 9lh Si. S. Phono 337-3147 rave A new car. ouse. store things in lire. It a lot of planning to ac- quire the better things in life. That's where we can help at Niagara. Ihe cash store. With a persona loan up to or more. Or s mortgage to And the Linci c: iinanria! Ihot maL'cs it all poi-'HD.e. Want to taU it over? ready. V largest all-Canadian consumer loan company JL Irfhbnclcio Id: 327-854.', f .12-1 7lh St. South, ;