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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 27, 1970, Lethbridge, Alberta tax losing Although the federal structure and the government' plan to reform it has its shzrc of opponents, by far the nan significant tax discontent if. t, the provincial and levels. Specifically, the prt.r erfy tax has come under particularly with respect lo riu education tax which is tic largest component of the It is in this area, more u--gently than in the federal ta? system, that reform is lung overdue and cannot wait Ion; government deliberation. DEEPLY RESENTED The taxes levied to provincial and municipal costs are no longer K cepted by the taxpayer, er the rural fanner or home owning surbanite. the tax system is simple, easily understood, and deeply resented. The taxpayer has his back up. He simply cannot how the fact that he a home, regardless of fcow much he owes against it, nr I'm fact that he owns a farm, rt-gardless of its profitability lack thereof, gives him a grei.i-er ability to finance educatior. costs than the apartment dweii-er or businessman whose profits are high but whose land uses are low. There is strong evidence to support the property owner's ease. When property taxes were mginally introduced, the was that the levies were designed to cover the cost of government services to a( grate, perhaps to another prov ince, or country, where he wil pay his taxes and make his contribution to the cultural inc social environment. In those communities nnc provinces where there is an annual net loss of young people educated through taxes levied on property owners, the discontent is most acute. Taxpayers argue that in most cases they derive little benefit from the taxes they pay to educate people who subsequently move to other provinces. They are ready to do battle. It serves no useful for municipal and provincial governments to attempt partial relief or disguise the education taxes through fisca gimmickry. The problem will only be solved in this area of taxation when all levels of government recognize both that property ownership is no longer a relevant measurement of one's ability to pay taxes, and that education is a nationa affair and should be financed through a national, not a local tax system. (Mr. Aspcr Is a Winnipeg 1 jilfejJP" quotations Vancouver, Calgary, tax Q By T. II. ASPER Have tha limits of taxpay I ers' patience been reachec i This question is actually bein i considered seriously, thoug 7 privately, by some politica figures responsible for main tabling a balance between gov eminent taxing and spendin necessities. There's no doubt that publi awareness of every govern ment move in the spending am taxing area has never bee more acute, particularly at th provincial and municipa levels. There's good reason fo the growing concern. Fo example, many homeowner are now paying more in mu nicipal and provincial propert tax than they pay in Federa and Provincial income taxes There is growing anger in thi particular tax group whos members argue, often with convincing logic, that they are paying more in taxes than oth ers whose ability to pay, pro portionately, is much greater. Indeed, signs of taxpayer re sistance are unmistakable. A few months ago, in reaction to proposed federal changes in the tax system respecting smal business, Canada witnessed a substantial and often militan rejection of the tax white paper plan by thousands of operators of small business. That resulted in the formation of a permanent tax watchdog under the name, the Canadian Council for Fair Taxation. The Council, whether or nol on.e accepts its views, has been effective in resisting increased taxes for its members. One ought not to dismiss lightly the fury with which an economic group in society will defend itself when it feels threatened with extinction through government action, taxation and otherwise. The same instinct for self-preservation seems to have motivated the small businessman of Poujadist persuasion in France a few years ago when they physically, violently and successfully resisted tax increases. REFUSED TO PAY Only a few weeks ago, many Ontario farmers rejected the provincial tax system by refusing to pay taxes on their land, arguing that the levies were archaic and unjust. The Ontario government has since made conciliatory gestures and that particular fire seems to be under control. Manitoba farmers, encouraged by the success of their Ontario counterparts, are now being exhorted by some spokesmen, to repeat that reaction by withholding their proper tax. In Ste. Ttes, Manitoba, a pro vincial constituency which is threatened with not having a member in the next session of the Manitoba legislature, because of the provincial government's reluctance to call a by-election to fill the vacancy, some activists are calling for a tax strike on the footing that there can be no taxation' without by Doherty, Roadhouse and McCuaig) LAST BID OR SALE a.m. Quotes) a.m. Quotes) a.m. Quotes) WESTERN OILS Inter Steel 7.37Vi Invest Gr 9.70 10.5 Almlnex 5.95 Jeff Uke 9.12Va Invesl Mutual 4.ca 5.C Asamera 1J.25 Joutel 1.06 105 Vent 3.30 Market dip frac TORONTO (CP) Price, were mixed to fractions lower in active mid-mommi trading today at the Toronto stock market. On index, industrials were down .01 to 160.72 and base metals .03 to 89.99. Golds rose .08 to 171.77 and western oils 1.09 to 193 93 Volume by 11 a.m. was shares, compared with at the same time Thursday. Among losing issues, Bow Valley was down to Pacific Pete %'to Reitmans Vi. to and, Rio Algom Vt to Texaco climbed to Bank of Nova Scotia to Home A to and Canadian Superior Oil 1% to PRICES STABLE MONTREAL (CP) Prices were relatively stable in moderate trading today on the Montreal stock market. All sectors declined marginally except papers, which registered a gam. Combined1 volume on the Montreal and Canadian Stock Exchanges to 11 a.m. was stores, compared with shares at the same time Thursday. On index, industrials dipped .06 to 170.07, utilities .16 to 144.65, the composite index .10 to 166.27 and banks .35 to 174.85, while papers rose .38 to 82.12. John Labatt Ltd. dropped to Dominion Bridge V2 to Aquitaine to Inco Vt to International Utilities to and InterProvincial Pipelines to Dome Petroleum advanced to Hudson Bay Oil to Texaco Canada to Noranda to 1-3, Bell Canada Vt to and Shell Canada Vt to BROAD ADVANCE NEW YORK' (AP> The stock market, which was closed Thursday for United States Thanksgiving, reopened today with a small but fairly broad advance. At noon the Dow Jones average of SO industrials -was ahead 1.10 points at 775.81. The Associated Pres 60-stock average was unchanged at 264.9. Prices on- the New York Slock Exchange most-active list included Telex, up' Hi at Natomas, up VA at tfionally Chase Manhattan, up s Among Canadians on tl NYSE, Dome Mines rose a poir to and Massey was up at Canadian Pacific lost to On the American Stock E change Scurry Rainbow Oil ad vanced a point to and Ji piter Corp. to Erasca Ltd. was off to P. Oil S.45 Kam Kotta .19 Mutual Or F 3.96 4.3 Can Southern 5.00 Mentor .tl Mutual In 4.52 4.9 Cdn Exp Gas 4.50 Newconex 5.75 Nat Res fi.U3 7.4 Home 7.55 Pac Pete 29.00 N W Fin 3.58 3.9 Cdn Indus Gas 11.75 Selkirk Hold 10.00 N W Gr 4.33 4.7 Cdn Super 39.50 Shell tnv N W Equity 4.72 5.1 Cent Del Rio 11.50 Shell Inv Pfd 32.6214 Principal Gr 3.53 3.8 Charter 6.25 Shell Inv Wts 14.50 Regent Fund 7.81 8.5 Chiellan 7.75 Sicks Ran 3.50 Royfund 4.96 5.1 Dome Pete West Cdn sd 4.10 United Ac 4.6 Dynam Pete 1.18 White and Yuk 16.75 Universal Say 6.53 7.1 CALGARV VANCOUVER Mill City 1.80 Acroll 1 15 New Cont .86 Pete 09 Anuk "M 4 :i i FWider 45 Rexdall: -10 B-c' SW Ranaer 1350 PIPELINE STOCKS B.C. Sugar Pfd 15.25 Scurry Rain 2325 Alla Gas Tr L A aMto CaP' lnter iM cnnnnnr 9on Alta Gas Tr Pfd 75.00 Churchill Copper 1.10 im Inland Nat Gas 10.25 Crestbrook F nd 5.50 N and c Croyden .22 MISCELLANEOUS Nand c 0 Pfd 28.75 Dolly Varden .42 INDUSTRIALS Gaz Metro 4.70 Dynasty 6.00 Atco Indus 10.25 Metro P A 61.25 Endako Aquataine 25.50 Tr Cdn Pipe 34.00 Fort Reliance 39 Cdn Brew A P. 30.25 Tr Cdn P Pld 41.50 Giant Mascot 4.00 Cdn Hyd Carb 14.50 Tr Cdn P Pid A 63.00 Granisle Cdn Pac Inv P. Tr Cdn P War 12.50 Key Indus! .31 CPR Pfd 9.00 weslcoast Tr 19.50 Hy's 225 Cygnus A 5.25 Western Pacific 4.80 Interior Brew 5.25 Cygnus B 6.25 MUTUAL FUNDS Jericho .10 Gt Cdn Oil Sds 3.95 AGF Special 2.26 Kamloops Copper .15 Gt Cdn Oil Sds 100.00 All Cdn Com 6.65 7.27 Lornex 6.60 Home Oil A 26.25 All Cdn Divid 7.70 8.42 Lylton Mineral! 2.56 Home Oil B 26.25 All Cdn Vent 3.32 3.52 Madrona .45 Home and Pit 1.80 Amr Gr Fund 4.55 5.00 New Cronln .08 Hud Bay Co 15.00 Cdn Grow h 5.06 5.56 New Imp Mines 2.35 Hud Bay Oil 38.50 Cdn Invest F 4.23 4.64 Primer .17 Hud Bay Oil P 53.50 Col Mutual 5.35 5.88 Pyramid .26 Hugh Rus Pfd 20.00 Cmnw Inter 11.29 12.37 Silver Stand 1.46 Husky Oil 14.25 Cmnw Lev 2.79 3.03 Trojan .28 Husky Oil B P. 40.00 Corp Invest 4.94 5.39 Western Mines 3.45 Husky Oil War 7.40 Corp Invest S F 4.35 4.76 Westcoast Res 3.40 nter Pro Pipe 13.62 Gr Equity 5.67 6.23 Western Explor .23 Int Util Pld 30.50 Gr In Shares 3.00 3.30 Utica .65 Toronto mines., industrials Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) a.m. Quotes) a.m. Quotes) INDUSTRIALS North, Cent 14.fflVi Frobex .27 Ahlllbl 7.12M. Pemhina Pp 24.M Rrs( MarItimM ,.M Alcan 21.75 Powe- Corp 4.75 _t v ,n Algoma Steel 13.25 price Co 7.00 Gtant Y-K- 10'50 Bell Tel Rothmans Gunnar 1.20 Brazil Trac St Law Corp 19.00 Granduc 6.60 B.C. Tel 59.00 Shell CDA Headway R.L. 8.50 Burns 7.75 Simpson's 16.25 Hollinger B.C. Forest 23.50 Simp Sears 21.50 Hud. Bay M-S 18.00 B.C. Sugar 15.12'A Steel of Can 24.75 Hydra Ex. CAE Ind 4.00 Selkirk A 70.00 Highland Bell 2.90 Cdn Brew Texaco 26.50 iron Bay 3.15 Chemcell 4.30 Traders Gp A 8.75 Iso 1.79 Col Cellulose 6.00 Trans AAtn Pp 19.00 Joliet Quebec .22 Cal Power 26.00 Trans Can Pp 3-1.25 Kerr Addison 10.50 Corn Credit 1.20 Union Gas Key Anacon .25 CWW Gas 11.12V2 Union Oil .JO Labrador 33.00 Cdn Indust 9.62% Versatile Mfg 3.30 Lake Shore 3.55 Canada S S 27.12V4 Westeel 9.00 Leitch 1.63 Cdn Marconi 3.25 Union Car 12.62Vj Langis Silver .10 Cdn Vickers 9.00 Weston's B 19.75 Macassa 7.10 Chrysler 27.371'b Woodward's A 16.00 Madsen R.L. .81 CPR West Cdn Sd 4.00 AAalartiC G.F. .80 Cominco 21.50 Zenith Elec 1.20 Martin McNeely 12.00 Cons Bath 8.87% BANKS Maybrun Cons Gas ia.62'A Can Imper al 19.50 Maclntyre 14B.OO Dist Sea 4B.15 Montreal 15.50 Mela Dom Bridge 17.00 Nova Scotia 20.25 Midrim .30 Domtar 13.1214 Royal 22.50 intern Mogul 10.00 Dom Textlls 12.62W Tor-Dom 19.50 New Athona Dom Stores 9.00 MINES New Calumet .27 Domfasco 22.00 Acme New Imperial 2.38 Fam Play 10.62Va Advocate Asb. 2.05 Noranda Lethbridge livestock AFTEENOON SALE i Calgary Livestock CALGARY (CP) On offer to 11 a.m., about head mostly replacement cattle Trade was active. Slaughter cattle sold in line with closing prices Thursday. Choice slaughter steers S0.75 to 31.20, good 29.50 to 30.50 medium 28.50 to 29.25. Choice heifers 28.25 to 28.80, good 27.25 ta 28.25, medium 26.50 to 27.25 Good cows 21 to 22, medium 19.50 to 20.50, earners and cutters 14 to 19. Good bulls 23 to 25. Replacement cattle and dock calves were in keen demand with the bulk of the offering replacement stock calves. Prices were generally steady. Good feeder .steers less than 750 pounds 33 to 35.70, more than 750 pounds 29 to 32. Good feeder heifers 19 to 23. Good stock sieer calves less than 400 pounds 40 to 43.60, more than 400 pounds 39 to 42.50. Good stock heifer calves 33 to 36.50. Hogs base price 24.75. Macleod Livestock FORT MACLEOD There were head of cattls and calves sold Nov. 16 through Nov. IS, with a steady demand on all classes, calves report Low choice fed steers 28.90 to 29.10. No heifers on offer. Good cows 20.50 to 21.60, medium 18.50 to 20.25, earners and cullers 14 to 18. Good bulls 22 to 23.10. Good feeder steers 32 to 34, three loads around 700 Ibs. 35 to 36. Good feeder heifers 29 to 30.50, medium 27.50 to 28.75. Good feeder cows 21 to 23.50, medium 18 to 20.50. Good steer calves 42 to 43.50, medium and good heavies 39 to 41.50. Good heifer calves 35.50 to 37, medium and good heavies 33 to 35. Good stock cows 325 to 350, sales to 375, while good bred heifers and medium cows sold 260 to 280, sales to 325, medium heifers 230 to prices Winnipeg Grain WINNIPEG (CP) Tradin was light at mid-session of th Winnipeg Grain Exchange to day with prices in all com modifies on easier patterns. Exporters continued to some interest in rye but offer were on a scale down pattern Thursday's volume of trad was bushels of flax, 1 bushels of rapeseed an of rye. Export, loadings of Canadiar wheat Thursday included 568 400 bushels to the United Aral Republic. Mid-season prices: Flax: Dec. lower 2.47 May 1% lower July 1% lower Rapeseed Vancouver: Nov 2 lower Jan. un changed 2.92V4; March low er 2.74B; May 2Vi lower 2.64A Rapeseed Thunder Bay: Dec unchanged April low er 2.70; June not open. Oats: Dec. unchanged 87 Hay unchanged July higher Barley: Dec. unchanget 1.28; May lower July unchanged Rye: Dec Vi lower 1.0614; May 'A lower July V, lower Prices Thursday for Class Tvo wheat for export to countries outside IGA: 1 Nor 2 3 4 1 Durum 1.8iyB; 2 1.78Vs; 3 4 IGA prices: 1 Nor 2 3 4 1 Durum 2 3 4 Grain quotes Thursday (basis High Low Close Flax Dec 248% 247% 247% May 258% 257 257'A Jly 259% 257% 258 Rapeseed Vancouver Nov 332'A 330% 332% Jan 294% 287% 292% Mar 277% 275 275V4 May 267V4 265% 266% Rapeseed Thunder Bay Dec 262% Apr 270% 269% 270% Jun 269% Oats Dec 87 May 87% 87 87% Jly 86 Barley Dec 128 May 128% 128% 128% Jlv 128 Rye Dec 107 106% 106% Hay 114 11354 114 Jlv owners, such as the cost of police, fire protection, roads and similar amenities. Befor.'; student mobility was a there may have been some validity in assuming that he children requiring an education came from the prerma-nent residents (property in a given community. Gil hat basis, there might hais ieen some justification is tack-mg the education tax onto the jeneral property lines. DAYS LONG GONE But those days are long gone. The likelihood today is that the tudent being educated at the cost of one municipality and rovince will not work in or ay his taxes to that community or region. He will chased at Calgary CALGARY (CP) Police grabbed three of four bank robbers early today after rifle-carrying bandits robbed a Canadian Imperial Bank of Commerce of less than The fourth man, identified ss Ralph Cochrane, 43, an escapee from the Prince Albert Penitentiary in Saskatchewan, was chased through downtown Calgary on foot. Police cars sealed off the area and officers were advised the man was Cdn Oil 3.95 Area Mines 1.50 Opemiska Gen Motors 76.62'A Belcher Iron .45 Osisko .38 Get Lakes Pap 16.75 Black Bay .08 patino 29.50 Gulf Oil Cda Bralorna 1.45 Pine Point 31.25 Greyhound 12.37Va Broulan Placer Dev. 29.50 Hawker Sid 1.90 Bethlehem p.c. Exp. .63 Huron, Erie Brunswick 4.25 Quebec Man .26 Hiram Walk 38.75 Canada Tung. 2.04 Rayrock 1.1fd, 35 cents; class A 50 cents; wth Jan. 1, record Dec. high earnings for Scotia bank TORONTO (CP) Thte bank of Nova Scotia had an all-time high of million in total assets Oct. 31, the bank said in a statement Thursday. The total compared with million on the same date last year, an increase of 7.2 per cent. Balance of profits for the year amounted to million, an increase of 12.2 per cent over 1969. Earnings were a share compared to for the previous year. Balance of revenue amounted ;o million, an increase of million or 3.1 per cent over the million record in Preferably a man with minimum of 2-3 yearj of f mal accounting 'training related experience to ass with various adminisfrat and accounting dutiei, quired by VAUXHALl FOODS LTC PAK-WELL PRODUCE IT Send resume or apply at VS Survieei Personnel Dept., P.O. Box 430, Vauxhall, or-or ist ye D. futures WINNIPEG (CP) The Mari-me potato futures market was ompletely inactive Thursday with no trades, bids or offers'. rour contracts were completed Wednesday. Open High Low Close Mar 2.60N pr 2.80N lay Hog prices EDMONTON (CP) Hog prices to 11 a.m. as provided1 by the Alberta Hog Producers Marketing Board: Edmonton: Quoted 24.75 to 25.50, selling 24.75, average Thursday 24.70. Red Deer: Quoted 24.75, average Thursday 25.25. Calgary: Quoted 24.75, average Thursday 24.78. Lethbridge: Quoted 24.50, average Thursday 24.78. Lloydminster: No sales, average Thursday 24.17. Sows 12.25. A total of 219 hogs sold to 11 a.m., sold Thursday, provincial average boosts penalty EDMONTON (CP) A dis- Whitecourt, saying that a ct court judge yesterday ill- 'arger was needed to act eased the fine against Hud- asDa to spilK rvn r- TJJ Bruce Patterson of the i "i ney-general's department from for an oil duced a report from the fish ill of about 100 barrels. wA wildlife department which The attorney-general's de- said that about fish were artment had appealed the ori- killed by the oil spill which ginal fine, handed down Aug. covered about VA miles of a 5 in magistrate's court in and Dominion Sugar Company Limited Offer to the holders of common shares of j Western Canadian Seed Processors Ltd. Canada and Dominion Sugar Company Limited offyfog to purchase all 'of the -Issued and outstanding common shares of Western processors Ltd. at a price of H per The Offer will not become binding on Canada Dominion Sugar Company Limited unless certificates representing at least of the outstanding shares of Western Canadian Seed Processors Ltd. are deposited under the Offer, which w cpen for acceptance up to and including December 14, We recommend that the Offer be accepted by al! holders of common shares of Western Canadian Seed Processors Ltd. Copies of the Offer and related documents may be obtained from The Royal Trust Company in Toronto, Montreal, Halifax, Winnipeg, Regina, Edmonton, Calgary, Lethbridge and ATTENTION! FARMERS and STOCKMEN If You Want TOP DOLLARS for your LIVESTOCK Consign to PICTURE BUTTE AUCTION MART Ideally located in the centre of large cattle feeding and hog raising area SATURDAY, NOV. 28th at 1 p.m. 500 TO 600 HEAD All Classes of Caftle Highlighted by 75 YEARLING STEERS AND HEIFERS from one owner 60 CALVES FROM ONE OWNER 40 CALVES FROM ONE OWNER Also 300 TO 400 WEANER, FEEDER HOGS AND BROOD SOWS FOR FURTHER INFORMATION CONTACT PICTURE BUTTE AUCTION MART JOE or JIM JURIS 732-4400 or 732-4468 COAST SEAFOODS Trucrdoad Sale of Fresh Fish And Seafoods Will Be Held At FORT WHOOP-UP SERVICE Thursday, Nov. 26, and Friday, Nov. 27 From 11 o.m. to 8 POSITION LEADING CANADIAN APPLIANCE MANUFACTURER SALES REPRESENTATIVE FOR SOUTHERN ALBERTA The man we are seeking should be between 25 and 35 years old, married and must be prepared to live in Uthbridge. The luecessful applicant should bo prepared to work with minimum supervision. Remunerafion by salary, commission and complete expenses. Excellent opportunity for advancement. Reply Giving Complete Resume Giving Age, Education, Experience Etc. To: BOX 84, information or assistance to accept the ia' 'Omintm Sugar Company limitcS Offer, call the undersigned or any member of the Jni'f Association of Canada or any KariAer of the Toronto, Montreal, Canadian or Vancouver Stock Securities Corporation ;