Lethbridge Herald, The (Newspaper) - November 25, 1971, Lethbridge, Alberta
Trade is slow at mid-morning TORONTO (CP) Industrial issues edged fractionally lower while prices in all other major sectors of the Toronto slock market posted advances in slow mid-morning trading today. The industrial index was down 02 to 1C0.95. Golds were up .06 to 150.85, base metals .17 to 69.IM and western oils .97 to 1 Volume by 11 a.m. was shares, down from at the same time Wednesday. Declines held a slim margin over advances 78 to 75 with 140 issues unchanged. Banking, beverages, food processing, real estate and steel issues moved lower. Chemicals, communications, indutnal min- ing oil refining and genera manufacturng issues climbed higher. lEleclrohome was down '2 to S3S, Canadian Tire A 's to 532, Great Plains 'i to Ash- land Oil 10 cents to and Great Northern Capital Vz to Falconbridge was up to Beaver accepts offer Pacific Pete to Numac 'i to Supertest or- dinary to SGl'.i, Inco to and Imperial Oil '.4 to 521KB MONTREAL (CP) Prices were mixed in showing frac- tional gains and losses in mod crate trading on the Montrea stock market today. On index, industrials led ad vanccs, climbing .37 to 163.72 while the composite rose .17 tr 164 34. Utilities slipped .45 ti 14166 while banks and papers were unchanged at 207.15 and 66.64, respectively. Combined volume on the Ca nadian and Montreal stock ex changes at a.m. wa 283.300 shares, compared wit at the same tim Wednesday. Aquitaine gamed up to S23 Peoples Stores to Simpsons V'i to Inco ri t 527'a and Imperial Oil !a t Alberta Gas fell 3s to Vt CP Ud. Vi to Hudson Bay Co. Vt to SlG'j and Bank Montreal 'is to 5153s. The New York Slock Mark is closed today. TORONTO AVERAGES .20 Industrials 100.78 off .19 20 Golds 150.85 up .06 Base Metals 09.77 up .1 15 Western Oils 1C6.15 up 1. Volume Miscellaneous quotations Vancouver, Calgaryr Montreal price review (Supplied by Doberty, Koadhousc .-mil McCuaifi) LAST HID OH SALr (t.rr (11-00 a.m. Ouotei) WESTERN OILS Hud Bay Co p.p oil Gas 'nn Soulli ;dn Ex Gns Jcln Homestd Cdn Hnme Pld Ind Gas Oil "dn Lonq Is Cdn Super Charier Chieftan Dome Pete Dynamic Pete ,t Plains ;t Cdn Oil Alii Citv Jew Cent Norlli Cdn Oil nac Cdn Pete i Ocean V.40 5.35 510 2.70 7.50 13.00 t.av> .56 M.75 5.05 7.65 36.00 R9 5H.50 .UU 1.12 1.62 .55 d.60 13.50 9.4S 32 1.20 Quotes! 1625 .10 00 51 Of) Husky Oil Oil B Ml'Sky Oil V.'iir SMI Kaiser Res Lake Dufault AAGF Manage Pacific Pete TeledynB West Cdn Seed Barons Oil Madison Norlh Cont 395 955 1.E5 26.2S 4.05 4..M) 875 B a.m. Mutual Gr F Nat U W Fin II W Or principal Or Royfuntl Gr United AC Universal Sav VANCOUVER MINES nuk STOCKS Arctic Mining Alias Explor lath Hone Jrendn Churchill Copper rroyc'cn pankce Dolly Vardcn Dynasty Ponder Scurry Rain Spooner Selbnns Tola' Ulster West West Pele MISCELLANEOUS INDUSTRIES Aquotaine 33.M Brinco Cdn Brew A Cdn Brew B Cdn Pacific inv Crowsnest Cygnus A Cyiinus B Gonstar Home A Home B Winnipeg Grain WINNIPEG] (CP> Trading jUec 2-W, vas improved slightly at mid- May session on the Winnipeg Grain Jly exchange today. Hapi-si-i-il The light activity in all com- Mn nediti'-'S was restricted alin-wt! entirely to local and cinnmis-! Hil1 sion houses with a little (Inmes- ic shipper buying in oats and jarley. Wednesday's volume of! trade was bushels of I May 259'.: flax, of rye and Jly of rapcsced. Oats MID-SESSION Dec fu1: Flax: Dec. lower 2.31 '1 A, May 07'.; May Hi lower July Ijjly lower 2.43. i Barley Rapeseed Vancouver: Nov. j Doc 104s unchanged 2.67A, Jan '.i lower j May March l'i lower I Jly June higher 2.67'iA. I Rye Rapeseed Thunder Bay: Dec. j Dec i.i lower 2.49'iB, May unchang-1 May ed 2.59'zB, July not open. Jly Oats: Dec. higher May 'B higher July un- changed C7B. Barley: Dec. higher May unchanged July not open. Rye: Dec lower S1SB. Mav U lower 1.01A, July not Ixtw Close 2 11112 242 MS 244 ____ 207 Kapc'M'Ctl Thunder Byy Dec l 249 rl'JU 258 65U 67 U 07 94'.t 101'.I 102's Thuriday, November 25, 1971 THE LETHBRIOGE HERALD 9 Chrysler boosts retail prices Toronto mines, industrials (Supplied By Blcharflson Securities of Canada) LAST BID OR SALE a.m. Quotes) MINES Advocate Asb. 1.5 Akaltcho Bralo a.m. a.m. Quotes! 1.30 aroulan i Tung. WINNIPEG (CP) The board of directors of Beaver Lumber Co. Ltd. has decided to recommend that sharehold- ers accept an offer by Molson Industries Ltd. of Montreal for all the common and class A shares of the Winnipeg-based company. In a statement released to shareholders late Wednesday the board said the loss of in- dependence was viewed "with great regret." Last week Molson Industries announced an offer of four Mol- sun class "A" shares and cash for each five convmon or five class ".V'shares of Beav- er Lumber. K. C. Kennedy, president of Beaver Lumber, said the board's decision was based in part on tire fact that Molson pin-chased 582.1109 common shares of Beaver at a price of S18 a share payable in cash immediately prior to making its offer to holders of Un- common and class "A" shares of Beaver. As a result, Mr. Kennedy re- ported, thai Molson holds at least 13 per cent of the com- par.y's common By Gene Fawcette WHERE DID THE AUSTRALIAN! "STONE AGE" ABORIGINALS COME FROM? NO ONE'S SJRE, UTTHE LATEST THEORY ISTMAT HEY CAME FROM JAVA YEARS A50, SWEPT ALONG ON RAFTS'BY HURRICANE-LIKE WINDS AMP TIDAL WAVES CAUSED 5Y AN EARLY. ERUPTION CrK Ethane export licence wanted by Dome finn OTTAWA (CP) Pe- troleum Ltd. has applied for a licence to export 266.96 trillion cubit; feet of ethane from Can- ada over 10 years. Ethane, a fuel, is a constitu- ent of natural gas. The National Energy Board said Tuesday It would begin hearings on the application Jan. 11 in Ottawa. Other applications i to be heard at the same time: -Dome Petroleum Ltd., i Amoco Canada Petroleum Co. Ltd and TransCanada Gas Products Ltd., for licences to export 111.5 million barrels of propane over 25 years; Pipe Lines Ltd., for authority to build pipelines for natural gas liquids from the Ed- monton area to the U.S.-Saskat- chewan border near Elmore and from the Ontario-U.S. border to Windsor and Sarnia; total miles. The board will also begin hearings Dec. 14 on an applica- tion by TransCanada PpieLines Ud. to improve its facilities at j more than" 70 locations hi Sas- katchewan, Manitoba and On- Canadi Cassiar Central Pat. Chimo Conwest Cons. Rambler Coin Lake Cochenour Craigmon! DicKenson Mine; Denison Mines D'Eldona Dome Mines Discovery Mine! East Malartic East Sullivan Falconbridge Frobex First Maritimei Giant Y.K. Bovis Granduc Headway R.L. HoNinger .20'; 15.00 2.65 1.53 17.75 1.33 1.10 7.70 1.21 .09 .23 20.25 .40 55.50 .24 f.5 7.35 1.55 3.55 5.50 34.00 Opemiska Osi-fco Patino Pine Point Placer Dev. P.C. Exp. Quebec Mar Radiore Rio Alcjom Sherritt Gordon Silver Miner Steep Rock Tek Corp. Upper Canoda. Western Mines Wright Hargre; Willroy Windfall Yellowknlfe Bea Zenma 7.20 ,21 15.00 21.35 30.25 .61 Dotasco CAB Fd cf Amer G: Cdn Oil Grn Motors Gt Lakes Pap 2 Gulf Oil Crta Greyhound Hawker Sid Huron, [Erie Hiram Walk Imperial Oil ImaEca Int Nicke! Hudson" Bay M-S 1A.87V4 Iron Bay 2.95 I so Joliet Quebec Kerr Addlson Key Anacon Labrador Lake Shore Lanqls Silver Madsen R.L. Malar tic G.F Martin McNecly Maclntyre Mela Midrim Intern Mogul Now West Home New Athona NPW Calmuel W. Horse Copper Noranda Northgate Norlex INDUSTRIALS Abitibi Aican Algoma Steel Atco Ind Atlan Sugar Agra !rdust Bell Tel Brazil Trac B.C. Tel Burns 3.15 4.05 .35 1.41 vesl.15 .64 .08 3.90 Loblaw .OSVi Metro S tnt i Inv Gn A Int Utilities IndusT Accept Laurentide Per 537''i M.cMillan B 15.12' i Corp 11 12'''2 Molsons A 6.35 Morons B 5.B7''j North, Cent B 37'-j Power Corp Co 16.00 B.C. Forest B.C. Sugar CAE Ind Cdn Brew cnemceii Col 12.50 15.50 17.75 J.OO Cal Power .03 Corcn Credit .tO C.W.H. Gas .54 Cdn Indnst .07 Canada S 5 57 Cdn Marconi 10 Cdn Vickers 10''j Chrysler 6.65 CPR 7 55 Cominco Cons Bath "l4''j Cons T "6o Dom Bridge Corp Shell CDA Simpson's Simp Sears Ster-l o( Can Selkirk A Texacn Traders Gp A Trans Mtn Pp Trans Can Pp nion Gas 2o.ro 17 50 6i.OO A -'-Q 75. 87 is on 22. I J.75 2.05 17.75 27.00 2i.75 i.ll'r 37.62'; 18. EC R 21.50 t 1703 16. ET 13 m jJ.SO 5.75 13.67' j 19 00 31621.! ?0.75 26.25 52.25 16PO 31.50 Hudson's Bay acquires stores iji takeover WINNIPEG (CP) Hudson's Bay announced here it will i make an offer of SG cash for each of the outstanding common shares of A. J. Freiman Ltd. of Ottawa. The company said Lawrence Frei rn an, president of A. J. Freiman Ltd., has said that members of the Freiman family would accept the offer. Family members own 70 per cent of the shares. Freiman's opiates three de- partment and two dis- count department stores in the Metropolitan Ottawa area. Hudson's Bay Co. announced last June that it would enter the Ottawa market with a store in the new Bayshore shopping centre scheduled to open in 1973. ;CP hotels takes over Northslar WINNIPEG iCpi Cana- e-ian Pacific Holds announced today it will take ever man- agement of the 21i-slorcy Nmlli- star Inn in downtown Winni- peg Dec. 1. CP Hotels, the largest hotel operator in Canada, says in the announcement it has signed a long-term management con- tract with Western Theatres Ltd., owners of the S3.5 million hotel. Western Theatres is 50 per cent owned by Famous Players (Canada) Corp. Ltd. Peter G. McArtJiur, execu- tive assistant manager of Tor- onto's Royal York Hotel, is to become manager of the N'jrth- star Inn. Ths Hotel's present staff of 200 is to be retained under the new contract. DKTH01T 'API Chrysler Corp. unii'unccd Wednesday a thrce-pci'-ccnl acraw-lhc-boi.rel increase em its suggested L'.S. retail prices for 1972 cars, trucks ar.d optional eejuipmenl.. It had received price commis-' sion permission to raise prices. 4.5 per cent. The company said it is raising prices only a portion the au- thorized 4.5 per cent at this time bcciU'e of the competitive situation. The increase uas approved earlier Wednesday by the price commission in V, asn- ington. Chrysler originally had sought a 5.3-per-ctnt increase for its 1972 models, but the com- mission said calculations based on Chrysler's projected sales and productivity for 1972 led it to set a lower figure. cars, trucks and optional equip- ment effective with sliipinc-nts beginning Friday. The manufacturer's supgcsied retail prices on Plymouth Bar- racudas and Dodge Challengers have been reduced by an aver- of the company said. Suggested retail prices on all other cars, trucks and optional equipment have been increased three per cent across the board. Chrysler Canada said tin-, pricing ae'.ion would recover only a ponien of the increased costs built into the 1972 modeli. Dividends Bv TIIK CANADIAN I'RKSS Home Oil Co. Ltd., class A 25 cents, class B 25 cents, both i Jan. 1. Dec. 3. i I'inp Point Minos Ltd.. 51.25 i Dec. 17. record Dec, 3. Alberta centres receive grants EDMONTON" (CP) The Vo- cational and Rehabilitation IU-- seurch Institute in Calgary will pet a SM.GOO grant, the depart- ment of hi-alth ar.d social de- velopment announced today The industrial research and training centre in Edmonton will receive The main purpose of the cen- tre; is tei assess and evaluate- the- work capabilities of the- mentally retarded and to asccr lain how and where they can be integrated Into the labor force. The government also an nounced a grant of si5.500 to as- sist in the conjunction of a sheltered workshop in Lloyd- minster for the retarded. Potato Prices WIXNTPEG Maritime potato futures: No trades lion- dav. ocessing ana y 1003 4th Avenue 5., lelhbridgs Telephone 328-4426 l.CX) 11 55 13.62'j Wesleet 8.50 Union C3' 26.CO Wcston's B 11 37''s Woodward's A 18 50 West Cdn Fd Zenilh Elec ia'631'- BANKS 2l'o6 Csn Imperial o 62': Montreal 18.25 Nova Scotia 35.75 Tor-Dorr 12.01 15. 17'. 2 22.75 What to do with the money you save buying Melchers. ecmccu FOSSIL BONIS IHJMA AND PREHISTORIC IN AUSTRALIA' Hog prices EDMONTON (CP) Aver- age prices to 11 a.m. provided by the Alberta Hog Producers Marketing Board: Edmonton: 23.90; average Wednesday 24.62. Red Deer: 23.85; average Wednesday 2-1.10. Calgary: 23.75; average Wednesday 23.EH. Lcthbridgc: 24.15; average Wednesday 24. Uoydminstcr: No sales; av- I cragc. no sales, i Total hogs sold to 11 a.m. 'fiBO- Wednesday Provin- cial average, 24.44. Sows aver- age 14, Beef futures WINNIPEG (CP) Uve beef futures at close Wednesday were: Jan. M.WA; March 32.05 B; and May 32.053. Tuesday's volume: Two con- Wheat sales cut forecast by bank WANTED s houseparents for girls around 12 roup home in Edmonton. Husband Apply in writing to D. L. Moncrieff, Homes and Institutions Branch, Department of Health and Social Development, Administration Building, 109 Street and 98 Avenue, Edmonton TELEPHONE 429-5411 spite increased wheat sales by Canada in 1970-71, and recent contracts signed with the USSR, and China, a drop ui global wheat trade during the next few years appears inevita- j hie. In its Business Review for i November, the bank says the Canadian Wheat Board man- aged to increase sales by 24 per cent to 410 million bushels and Canada regained an estimated 4.5 per cent of the world wheat market in the 1970-71 crop year. This Increased market share was the result of a significant increase in Canadian wheat ex- ports to the less developed areas of the world, and is also attribffl-able to the Canadian government's revised and ex- panded credit program, the re- port says. In addition, recent contracts; signed with the U.S.S.R. and i China for a total of 150 million bushels promise to stimulate ex- port activity over the coming months. However, an atmosphere of Intense competition and other factors will produce a further shrinkage of international wheat markets, and basic adjustments would still appear necessary in the agricultural industry. GIVES The report says "it would dangerous to assume thai simi- larly large sales to Communist countries will become a regular localise domestic pro- duction problems facing these countries during the 60s have been largely overcome. Also, many developing coun- tries have a variety of mechani- zation programs and new land reclamation and irrigation pro- jects, and are using high yield- ing strains of wheat which have enjoyed significant production gains. The report, quotes a study pre- pared for the Kennomic Council of Canada which forecasts that world Imports would average 47 million wheat tons per shown for the five year pen of 1965 to 1970. "Efficient programs which allow early assessment end ex- ploitation 'of shifts in market: patterns are of paramount im- portance" to Canada's wheat trade, says the report. "Diversification of Canadian j wheat growers into other field crops such as feed grains, and into livestock production' is part of the adjustment process to a decreasing wheat market. Livestock1 Calgary livestock CALGARY (CP) Receipts of the Cahjary livestock mar- ket to 11 a.m. were 1.100 head; mostly good to choice slaughter steers and cows. Trade was on a strong active i basis with a good local and j eastern demand. j Slaughter steers sold fully steady with sales to 34.10. Heit- ers were scarce and sold steady to strong. Cows were SI higher for the week with sales to '23. Bulls sold on a strong basis with sales to 24.50. Choice steers M.2.1 to 34. good i 32 to medium 31 to :u.; Choice heifers 31.50 to 32. goal 30.25 to lil.'J.j. medium 28.75 to 30. Good cows 21 to 22. mo-1 dium Hi to 20.75. canners and cutters 16 to 18.50. I'iood hulls 22 to 24. Rep 1 a c e menl cattle were mostly shortkeep steers weigh- ng to pounds and sell- ing steady. Stock calves met a good demand at steady prices. Good feeder steers 750 pounds up 32 to 34. good lock ami feed- er rows 21 to 21.50. Good slock steer heifer caivc.s 32 to 30. Hogs average base price j 23.75. Melchers Black Label Rum icil ni n rich d.irk rum. But you don't hnvc to be rich. Try it and you'll have enough Iclt over lor .1 kind. Melchers Black Label Rum. A nice, inexpert ivcrum.