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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 15, 1972, Lethbridge, Alberta 32 THE IETKBR1DGE HERAID Werlneiday, Novembor 15, 1972----------------------------------- TSE stock prices continue upward Toronto mines, industrials (Supplied By Hicliardsun Securities of Cauada) LAST BID Oil SALE TOKOXTO I'ncus on ihe Toronto slock market were up sharply in active mid morn-! ing M-nding loday. Tvhc industrial index, raisid- lo Bell Canada and Harlequin to Footles lo S S13. West Indies Plant slipped 10 cents to SI.20. Hardee Farms 5 r-rcd a major indicator of mar-, cents lo Sl.OO. Consolidated rend, was up 1.42 lo 210.75 Buildi: ket trend, was up while golds were down .Ifi to 177.91. base melals .17 to 83.'11 and western oils .26 to 259.16 Volume by 11 a.m. was 1.21 million shares compared wilh HI.000 traded by the same time Tuesday. Bank, beit'.age. industrial ng 10 cents to 52.40. Mol- son A lo S29> and Acklands >i to Hudson Bay Alining and Smelling climbed ;'s to Tara Exploraton to 15 and N'orthgate 10 ccnLs lo W.50. Iso Mines dropped 30 cents to and Rio Algom 'B lo mining and slecl slocks were among seclors of the market MONTREAL (CI'l All sec- recording the strongest gains; tors advanced in light trading while food processing and pipe- line issues were the only sectors registering losses. Advances edged declines Ml to 102 while 172 issues remained unchanged. Inco lo Header's Dyrsl lo Grain prices Winnipeg Grain WINNIPEG Rape- seed prices posted slight gains at mid-session on the Winnipeg Commodity Exchange today in a moderate volume of trade. Flax prices were as much as five cents above previous close on Ihe Montreal stock market today. Combined volume on the Mon- treal and Canadian stock ex- changes at 11 a.m. was 2B7.800 1 shares, compared with at the same time Tuesday. Banks rose 96 to 277.41. the i composite .8-1 to 220.42, industri- als .62 to 229.25 utilities .55 to 15.34 and papers .48 to 94.83 On Lhe Montreal Stock Ex- change International Paper i rose l to S40, MICC Investments I to S29 and Royal Bank to S37 while B.C. Telephone lost I to S57. On the Canadian Slock Ex- j change, Acroll added two cents to 92 cents on 3B.167 shares traded. MINES Acme Advocate Asb. AKaltcho Bralorne BelhleMeii Brunswick Can. N.W. Land Canada Tung. Casslnr Central Pal. Cnimo Cons. Rambler Coin Lake Cocfienour Craigmont Dickensgn Denison Mines Deer Horn D'Eldona Dome Mines Donalds Discovery Mines East Malorfic East Sullivan Falconbrldge Rrsl Marilimes Giant YKK Granduc Headway R L. Hollinger Hudson Bay W-S Hydra Ex. iron Bay Joliel Quebei Kerr Addison Key Anacon LaDradar Lake Shore Langis Silver Madsen R.L. Malarlit G.F AAsrlin WtNeely Maclnlyre Meta Midrim Mogul Nu V.'eal Homes New Alhang New Calumet W Horse Copper Noranda Norlligale a.m. Norlex OilBko Pine Point Pt.iccr Dev B 23 1.-19 12.00 3.00 ?.sa 10.00 10 87' 9.37'. 7.30 39.00 Quebec Mfln Rayrock Rddiore Rio Algom Roman Corp Sherrill Gordon Silver Miller Steep Rock Tek Corn. Texmonl Upper Canada Weslorn Wines 1 Wrighl Heirgreflvei Wiliroy Wirdfall Ycllowknite Bear Zenmac INDUSTRIALS AbiliDi 9 A lean Algomn Steel Alco IncJ Atlantic Sugar Agra Ind Bell Tel Brazil Trac B.C. Tef Burns D.C. Forest B.C. Sugar Bow Val ind CAE Ind Cdn Brew Chemcell Col Cell Calgary Power Coron Credit C.W.N. Gas Pfd Cdn ind Cdn Afla-ccni Cdn Vickers Chrysler C.P-R. Cominco Cons Bath Cons Gas Dfsf Seagrams Domlnr 26.00 3700 3.7ft .09 1.02 Dome Pelf; Dofasco Cable Grt Cdn Oil Gen Motors GrJ Lahes Ppr GulF Oil Cda ..10 Greyhound IfUIVa Sid A 20 Hur B, Eire Hiram Walker Imp Oil imasca mi Nickel Int Pipe G 12 12V3 515 UNI 575 1.1. Ind Accept Laurentlde Kelly Doug A LOCi} Mel Slores Masspy Ferg McMillan BW Moore Corp i Molsons A Molsons B North L Cenl Power Corp Quote si C.35 77.50 36.12V] 22.2S 3.75 31.00 SO.DD -1225 31.75 27.50 10.75 22.75 12.B7VJ 10.75 3.80 20.75 1B.37V7 23.62V2 1KB report Livestock 550 3.25 77.75 51. Law Corp Shell CDA Simpson's Simp Scars Slecl or Cda Selkirk A Texaco Traders Grp A Trans Mtn Pipe Trans Cda Pp Union Gas Union Oil Versatile MFg is 25 Westeel J.DO Union Car ll.CO Weslon's B 37.12V1 Woodward's A 15.00 wesl Cdn Seed 25.75 Zenith Elec 16.00 BANKS Cdn Imp .17.S3 fl'nS Nova Scoha 20.25 17.55 6.25 71.50 li.OO 20.50 27.75 6.25 2.75 J9.M 36.75 33. 75 Run on British pound could cause problem Calgary livestock CALGARY (CPJ Receipts to H a.m. on the Calgwy live- stock market totalled head, mainly slaughter steers and cows. Trade was active. Slaughter steers sold steady with over-finished steers discon- tinued 50 cents Lo Heifers were in short supply but sold steady for quality. Cows were mostly metlium- j to-canner kinds, selling steady. I Bulls steady. Choice steers 35.25-36.30, good 34 35, medium Choice heifers 33.25-34.10, good 32-33, medium 30-31.50 good cows 23.50-24 5Q, medium 21.50- 23.25, canners an! cutters 17- 21. Good bulls 26-20 There were insufficient re- placement cattle or stock calves sold early to establish quota- tions. Hogs average base price 36.80. Lambs sold steady Tuesday. Good Jambs 23.50. WATERLOO, Ont. (CP) Tlie Smithsonian Agreement may be undermined if a run on Lhe British pound develops be- cause of accelerating inflation in Britain, Eugene Birnbaum, vice-president of Chase Manhat- tan Bank of New York, said Tuesday. In ah address to about 70 par- ticitiants at an economic policy conference at the University of Waterloo, Mr. Birnbaum said whether Britain will be able to achieve better economic and price perform- that it has a Hooting exchange rate while foreign exchange re- serves pile up in the federal government's foreign exchange fund, indicating it is intervening to hold down the value of the Canadian dollar. Other speakers at Lhe confer- ence noted that if an inter- national monetary system is adopted that would limit build- up of foreign exchange in coun- tries with floating exchange has been proposed by the would be dangerous for Canada. Forrest L. Rogers, economic adviser lo Ihe Bank of Nova Scotia, Halifax, said Canada's response to the Nixon adminis- ance soon. They believed the mess in Britain was virtually unsolvable. He said if (here is a run on (ration's package of economic j Lhe pound, it may be devalued reforms has been negative, too by too much in relation to other silent on big issues, and too de- fensive. "We have not been prepared In recognize the U.S. economy, the world monetary system is in a predicament and we have a big slake in its he have very little in- said. "We dication from the Canadian gov- ernment what it thinks on inter- national monetary reform, whereas Canada has a substan- tial interest in what changes are made in the rule of inter- national movements of capital and goods." Mr. Rogers maintained that Canada, rather than seeking a special relationship with the United States on trade matters, should pursue a multi-lateral approach to trade and mone- tary matters, as much as it. NEW YORK (AP) The levels, oats and barley were .'stock market struggled today to i cdn. firm on domestic shipper biisi-: SLay above the record levels it ness and rye fluctuated frac- j SCf Tuesday, tionally. Island Charier Chieftan The Dow Jones average of 30 j Dome Volume of trade Tuesday was industrial stocks, which closed Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty. McCuaig Limited) LAST HID OR SALE a.m. Quotes) a.m. Quotes a.m. Qucies) WESTERN OILS Husky Oil 17.37Va Gr Equily Alminex 6.05 Husky Oil B Invest Gr F Alia East Gas 7 llle prjce-change index at i June 1 higher 2.79B. ihe American Stock Exchange Rapeseed Thunder Bay: Nov. 1% higher 2.61'sB; Dec. I'-i higher 2.61'.BB: May 1'j higher 2.69V2B; July higher 2.66i-iB. Oats: Dec. 1 higher May higher 93'2B; July ra 3.30 6.60 19.3713 16.25 14.50 1.30 ,TJ .87 CALGARY 65.50 92 .03', higher 93B Barley: Dec. '2 higher May '3 higher 1.29'jB; July V4 higher 1.31 Rye: Dec. 4 higher 1.23B; May V, higher July un- changed 1.28'.zA. Gram quotes Tuesday (basis Lou- was up .03 to 26.14. Up ?a among Canadians were International Nickel at and Massey at Hudson Bay Mining and Mclntyre Porcupine were ahead '2, at and S46'2, respectively. Walker-Goo- derham and Canadian Pacific were ahead N, at and 5J 51.1, respectively. Dome Mines fell Vt to S62. On th eAmex. Canadian Jave- li nwas up Vz at S9Vz and Bras- can Vi at S20li. Pan Ocean PonCdn Pele Pelrcl Pinnacle Place Gas Ponder Ranger 36.7. Scurry Rainbow 17.7 Spooner 7 Seitens 13.1 Tnfdt Pele fl.4 Ulster 1.1 West Decalta 6.3. Weslcoasl Pele 10.2. MISCELLANEOUS AquMaine 755 Cdn. Brew A Cdn Drew B Cdn Pacific inv. Crowsnesl Ind. Cygnus A Cygnus B Falcon Copper Genstar Home Oil A Home Oil B Hudson Bay Co Hudson Bay Oil Hudson Oil Pfd Hugh Russell 2B.OO 35.00 22.75 25.50 5 50 7.00 IT.37'. j 16.00 37.50 17.12V3 .19.50 5B.OO Barons Oil Norih Continent West Warner .28 PIPE LINE STOCKS Alia Gas Trunk A Alfa Gas -1-i Pfd Alia Nat. Gas 20.25 inland Nalural 11.87' Norlri cen' 11.87'. North Cenl B 36.00 Pacific Gas Trans 12.50 Gai Metro <.E5 GST fAftra Pfd A 69.51 Trans Cda Pipe 47.00 Trans Cda B 39.7i Trans Cda Pfd A 39.75 TransCda Pipe 13.75 Weslcoast Trans 33.25 West Trans Wts .1.95 MUTUAL FUNDS Royfund Temp Gr Uniled Ac Universal Sa< Vanguard Univest VANCOUVER MINES fl f fort Atlas Explor Bam Norse Brenda Churchill Copper Davenpgrl DankoJ? Dolly Varden 1 Dynasty 1 Equilcrial For] Reliance Gianl Masco' Graisle Lornex Lylton Minerals 12.37 13.53 5.85 6.40 A.15 676 4.72 5.19 7.49 B.19 S.fQ 5.93 AM 659 4.96 S.iS 6.97 7.25 8.17 8.93 5.67 6.33 fl.05 fl.Bj 8.8J fi.OT 6.69 Valley Cof .63 30 TiO Gt Pacific All Cdn Com Al Cdn Divid All Cdn Vent Amr Gr F AGF Special Ccln Invesl F Corn In SI F Copper NDUSTRIAL 4.87 5.3? Block Bros 7.60 B.J3 931 B.C. Sugar 20.CO 9.32 B.C. Sugar Ptd U.75 4.7) Capt Inter 4-W 7-18 Col Brew 3.47 Creslbrook F 9 97 HyS 15.14 16.46 Key Indusl 18 4.59 Pacific W Ail 8.19 9.00 Stampede Inll Res 6.16 6.73 OILS 5.2B 577 Albany Oil Pete Explor 275 3.25 3.30 3.30 .54 22 71 358 339'-2 HigJi Flax Nov Dec 341 May 3463.'i Jly Rapeseed Vancouver Nov 295 293 Jan 291 237'j Mar 2621- Jun 277'p Close 3421-4 2844 289 '-a 278 Rapeseed Thunder Bay Nov 259V4 2n7 25 257'4 25 26 Dec 2-W.i May 269 Jly Oals Dec 90'fi May Jly Barley Dec 126] 4 Hay 129 Jy 130'-: Rye Dec May Jiy 123', 128k 128'-i 128'ii 1291, 122 128 127'4 90'R 120 129 122--7 IZSfe 128'.r i Hog prices EDMONTON (CP) Aver- age prices to 11 a.m. provided by the Alberta Hog Producers Marketing Board: j Edmonton: 37.15, average Tues- j day 37.91 Red Deer: 37.15, average Tues- day 30.47 Calgary: 36.80, average Tues- day 36.78 Lethbridge: No sales, average Tuesday 37.44 Lloydminster: No sales, aver- age Tuesday 36.36 j Fort Macleod: No sales, aver- age Tuesday 38.05 Grande PraJrie: No sales, aver- sge Tuesday 36.77 Fairview No sales, aver age ruesday 37.00 Total hogs sold Tuesday New stocks (Supplied Bj Richardson Securities of Canada) T and T 51.50 Sears 116.23 20 Golds 177.40 off ,67 19.50 Sid Oil oF N.J. 87.50 10 Bite Met 83.34 off .33 Texas Gulf Hfl.OO 15 W Oils 259.76 up .3J Wickes Corp !8.B7V; Volume 63.25 Wool worth YORK AVERAGES Wesiinqhcuse Elec i3.oo 30 indusl up 1.51 B3.2S U.S. Sleel 30.75 20 Rails 227.75 up 1.37 Tel Elec :i0'00 15 utilitles 121-d' i53 TORONTO AVERAGES 65 Slocks 327.38 up .99 Anaconda Beth Sted Chrysler Comsat Dupont GM Gulf Int Harvester Ktnn Copper Montgomery Word 38.25 70 Indusl 210.33 up 1.00 Volume Caution expressed radio stations on I average (26.65 37.50 sows average Whatever happened to "Little Kleen" and how did we get to be Alberta's leading sanitation supplier? tt In ho tint .yjo when slctried fig'n.r.'j Alberta's nrirr.p. Well, llic joii'-. a lot uifjijnr now, bill so arn Wo'vc -70! largest Sftlns fnrrn m Aihr-rn finrl lli? UrflCIT sl'jr.k nf cvc.n Jrorn tlic fnii, sur hrivi? RxpcclTl innfo ol They knnirv jusl clnan wasn't ncc'lid ioniliJ- tinn ,mfl odor rontrnl find lots more. Now llmv know i wlidi Qluiin iin l t'.itLn ii. Call us: KLEEN Limited LETHBRIDGE: 236 12B ST. N. Ph. 328-6073 AlSO IN: CAICARY EDMONTON RED DEER VERNON DAWSON CREEK GRANDI PRAIRIt LONDON (CP) With Uie deadline for applications to run Hie firsl of Britain's com- mercial radio stations less than a month away, added caution is being expressed in some quar- ters about the potential profit- ability of the venture for the participating businessmen. But the secretary of one group representing the views of many applicants says the mood of most of them remains con- fident. These organizations continue to believe that they will lie able to comhine profit-making with maintaining the required stand- ard of orograms, says secretary in the fact lhat commercial sta- tions in Britain will command a much ivider audience than equivalent outlets in Canada, said Bassett. Now a program adviser lo one of the groups interested in commercial radio here, he told a meeting of the Maple Leaf luncheon club that London, with a population of eight million, will have only two advertise- ment-carrying stations com- pared with almost a score in Montreal, a city of 2.5 million. British cities outside the capi- ta] apparently will each have only with one commercial station, correspondingly large Mark Elwes of the Local Radio appeal to advertisers. Association. The independent Broad- fn a speech Tuesday. David casling Authority (IBA) which Bassetl. another figure in the i will supervise commercial radio world of British commercial radio, suggested that the rules governing suc- cessful applicants here will be tighter in some respects than those under which Canadian private stations operate. COMMERCIALS LIMITKI) Bassett, a former radio per- sonality in Montreal, said lhat, Ln Britain, has more dis- cretionary powers than Ihe Ca- nadian Radio-Tele vision Com- mission Bassett said. Britain also would see a greater emphasis on FM broad- casting than was the case with commercial radio in Canada. The. commercial stations, which also will include AM fre- for one thing, the British oper- ators will be limited (o nine minutes of commercinls in an hour compared wilh the Cnna- dian allowance of 16. But awnre of this restnclion will ioca] communilios. find compensating attraction Thcjr quencics among their wavelengths, will be designed to serve particular local commu- nities. Their main competition will prospective advertisers be designed to serve particular Beef f n hi res WINNlPKCi 'Cl Ixsf fulurcs Tut'.-.daj. Nov. .fun 37.00A; I Mftr 37.00A. main compclilion win therefore hr BBC local stations. But the corporalion'n four na- tional radio networks will also remain n big lure for listeners j throughout Ihe country. The BUG carries no com- mercials on cither its radio or television services. By Gene Fawcette FORTHCHOMC XNOBLESS.SUTTONLESSTV TUNING is ON THE WAYI "A NEW EXPERIMENTAL TELE- VISION SET ISTUNED PERFECT- LY TO EITHER VHP OR UHF CHANNELS ETT JUST TOUCH- INS ONE OP THE SMALL METAL PLATES BUILT INTO THE TRIM ON TOP... SeftffS. JENSESAUGMFY mnmne European currencies. In this case, other West European countries, such as France, may want to devalue also and this could result in the collapse of Uie Smithsonian Agreement of last December, which involved the devaluation of the U.S. dol- i lar and a retuni to a fixed cx- change rate system among ma- ]or industrial countries. i Tlie speaker said, however, that the potential danger is noti as grave as 11 could he if a WINNIPEG (CP) Gold lu-] peg market place which ceasefire in Ihe Vietnam war i tures trading on the Winnipeg j recently changed its name from Commodily Exchange wns the Winnipeg Grain Exchange, launched today and a flurry of; Trading unit Is a 400-ounce early activity followed the open- j Trading in gold futures started were not in sight PEACE WOULD HELP Peace in Vietnam would con- Iribule to a strengthening of the U.S. dollar and would help re- duce U.S. unpopularity around the world, thus undermining a spurt of economic nationalism in many parts ot the world, in- cluding Csnada. Mr. Birnbaum said the recent trend toward a splitting apart i of the United Stales and Canada could well be stopped and Ihe continental integration of U.S. and Canadian industry might again be favored. he said was in Canada's inleresl. Tie said he expects the Nixon administration to (17 lo lean to fiEcel conservatj.-n and this would help maintain the recent trend to improving price per- formance in the United States. Mr Bimbaum taid there is i concern among Washington oifi- ing bell. The market, first of its kind, was declared open by Supply gold bar ad a shiny sample from the Royal Canadian Mint was on display, although the trading medium normally will Minister James Richardson who take [he form of a storage cer- termed it "a confirmation of Kficate from n chartered hank. tificate from a chartered hank. HAS NO PRIVILEGE Mr. Richardson, who spoke against a background of busy oilseeds activity in an adjacent trading pit, told the gathering the market is not designed "to confer any privilege or to give any advantage to anyone." First sale went on the board i "This market must be so or- al SG2.50 (U.S.) an ounce tor dered and so regulated that it does not confer privilege of any kind. The centra] purpose of this open market and its right to exist, and hopefully to flour- the age-old knowledge that the free play of supply and demand in an open market place is by far the best way to establish the cored price for any com- modity." Bids and offers flew thick and fast after the brief ceremony on the noisy trading floor. January, 1973, delivery. The four other contract months also opened quickly with prices ranging to for a January, 1974 contracl. Gold is the first non-agricul- tural commodity to be handled isli. is because it will improve the working over the over-all economic mechanism of our 1 cials about Canada maintaining through the 85-year-old Winni-! society. HallinswarthTi uwrre THURSDAY, NOV. 16th to SATURDAY, NOV. 18th DOOR BUSTER SPECIAL! ITALIAN KNIT SUITS 9.99 15 Only. Reg. WHILE THEY LAST PULLOVER SWEATERS 3.99 Turtle neck ityle SO only. Reg. SALE Tweeds, Meltons, Wools Reg. lo 130.00 COATS 109" Assorted styles. Sizes 8 to 16. Values lo 12.00. SALE SKIRTS ft.99 7 .99 DRESSES Tall itylei, assorted colors. Reg. to 30.00. SALE PRICE Pullaven, cardigans, iKrinki. Reg. to 20.00 Reg. to 20.00. SALE SWEATERS D sn 2 300 ASSORTED STYLES 9 Assorted styles and colors. Reg. lo 13.00. SALE BLOUSES A.99 7 LEATHER COATS iTYLE OR 79 PANT COAT STYLE OR REGULAR LENGTH Zip out lining. Reg. to 110.00. SALE and Widft and narrow bolloms Values lo 17.00. SALE PANTS S AND 500 ASSORTED STYLES AND FABRICS 9 .99 Hollinswarth'i COLLEGE MALL STORE ONLY ;