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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 30, 1970, Lethbridge, Alberta Monday, Novtmb.r SO, 1970 THI UtHBillDGI HCTMD 17 Market advances in light trading TORONTO (CP) The To- ronto stock market posted _ a moderate advance .in light nud- moming trading today as it en- tered its sixth consecullve adv- ancing session. On index, industrials gained 58 to 167.58 and western oils i.42 to 197.14. Golds were down .12 to 181.52 and base metals'.35 to 197.14. Volume by 11 a.m. was shares, down from at the same time Friday. Gates outnumbered losses 148 to 80 with 176 issues unchanged. Strongest sectors were bever- ages, communications and pipe- lines. _, Among rising issues, Alberta Gas Trunk was up to Westcoast Transmission to Texaco to and Home A to OSF Industries was down to Giant IJascbt five cents to Bell to ?45% and Pine Point Vs to EDGES HIGHER MONTREAL The Montreal stock market edged higher to fight trading in to- day's morning session. All sec- tors posted gains except papers which declined marginally. On index, industrials ad- vanced ,75 to 171.M, utilities .51 Bank reports big yea1' TORONTO (CP) The To- ronto Dominion Bank says the year ended Oct. 31 was one of growth frith assets, deposits, loans, revenue, expenses, in- come taxes and earnings all snowing increases. Beanos of profist for the year was or a share, ap from or a share a year earlier. Total assets rose million to and total deposits were up million. Interest income was up million to mil- lion but interest paid was up million. Balance of profits for the year propriatlon for losses and in- come taxes was up million to million. The appropriation tor losses was million and for tecome taxes million. to 145.50, banks .01 to 174.85 and tbe composite index .63 to J67.1S, while Dana's were off .03 to 82.73. Combined volume on the Montreal and Canadian Stock Exchanges to 11 a.m. was shares traded, compared with shares at the same time Friday. Falconbridge climbed to Noranda to Tex- aco Canada to Rip Algom to and Husky Oil to Great Lakes Paper rose to CPR to Alcan to Belgium Standard Ltd. dropped to Fraser to Velcro Industries to Westburne to and Simpsons Sears to B.C. Telephone gained to Calgary Power to Canada Hydro to while Canadian International Power slipped 'A to EXTEND RALLY NEW YOKK (AP) The stock market extended its rally for the seventh consecutive day as Hie Dow Jones average set a recovery higH today. At noon the Dow Jones aver" age of 30 industrial stocks soared 6.57 points to 787.92. The previous high for the Dow was the 783.68 registered at the close of trading Oct. 7. Advancing issues led decli- ners by almost 4 to 1 on the New York Stock Exchange. Among Canadians on the NYSE, Canadian Pacific ad- vanced 1 to and Fudson Bay Mining gained Vt to Down Vt. were Distillers Sea- grams to Genstar Ltd. to and Walker Gooderham to On the American Stock Ex- change, Scurry Rainbow Oil was up to Meanest thief INDIANAPOLIS (AP) Mr. and Mrs. Harold L. Allison awoke Sunday to find someone had stolen the figures from their outdoor Nativity scene. The thieves took the holy fam- ily, three wise men, shepherds and animals. "Stealing a baby Jesus is really taking Christ out of Mrs. ADison said. SALES POSITION LEADING CANADIAN APPLIANCE MANUFACTURER requires SALES REPRESENTATIVE FOE SOUTHERN ALBERTA The men ore n.king.lhould bs bstween 25 35 old, mcfried and must -be prepared to in Uthbrldgi. luKessfu! oppliconl should be prepored to work with minimum jupervision. Remuneration by salary, commission and complete txptnies. Excellent opportunity for advancement. Plcaia Reply Giving Complete Resume. Giving iducatien..- Experience Itc. Tot 44, HEKAIB Grain prices Winnipeg Grain Prices WINNIPEG (CP) All rape- seed futures were on strongly buoyant patterns at mid-ses- sion of the Winnipeg Grain Ex- change today. Both the November and Jan- uary futures reached new crop season highs with some short covering to the January fu- ture. Offers were tWn to the flax market and fractional gains were posted. Oats and barley were mostly to a do- mestic shipper trade for east- ern feeders. Rye was frac- tionally easier with some inter- month spreading. Krday's volume of trade was bushels of flax, 000 of rapeseed and of eye. Mid-session prices: Flax: Dec. lower May higher 2.56VsA, July higher Rapeseed Vancouver: Nov. higher Jan. 5% higher 3.06, March higher May lower Hapeseed Thunder Bay: Dec. unch 2.68, April 1 higher 2.73KA, June Vi higher 2.7014B. Oats: Dec. unch 87, May unch July not open. Barley: Dec. unch 1.28A, May unch July not open. Rye: Dec. lower l.Oti'AB, May lower July lower Livestock Lethfaridge livestock AFTERNOON SALE Calgary livestock CALGAKY (CP) On offer to 11 about 325 head; mostly slaughter steers and cows..Trade was moderate. Slaughter steers sold 50 cente lower; no heifers were offered and cows were mostly medium and canner kinds. Insufficient good bulb offered to ertabiish a market. Choice slaughter steers 30.25 to 30.80, good 29 to medium 27.50 to 28.75. Good COWS 21 to medium 19.50 to 20.50, canners and cutters 14 to 19. Insufficient replacement cat- He offered to establish a mark- et. Hogs base prim 24.25. Livestock sliow goes on again CHICAGO (AP) The presi- dent of the International Live- stock Exposition says Uie show will be held again next year. The announcement by Wil- liam P. Adams appeared to quiet widespread speculation tot tins year's 71st Interna- tional might be the last, at least in Chicago. Rumors that the historic show might fold or move out of Chi- cago began and grew several weeks ago after the Onion Stock Yards and Transit Co., announced' it would close the yards Feb. 1. Tho company operates the ex- position as a not-for-profit event to help the quality of livestock, BUS MISHAP KILLS 30 JAKARTA (AP) A bus filled with holiday passengers struck a railing and plunged off a road into a river in South Su- matra, killing 30 persons and severely injuring 10. An Open Letter to The Mayor and City Council: RE: BYLAW NO, 2912 !o close Faurlh Avenue South between Mayor Magraih Driva end Twenty Third Street, The purpose of the proposed closure of this' city street Js to provide a private developer with parking area for the construction of a hotel. At a public hearing held November 16th, 1970 o petition opposing the passing ef this By-Law and signed by 431 residents in the area was presented to Council ot a public hearing. As Jhe residents have pointed out in their petition a develop- merit of the size contemplated willt 1. Divert large amounts of traffic into residential areas. 2. Create parking problems on adjacent streets, 3. increase traffic pressure on ths Fifth end Sixth Aveniw Intersections at Mayor Magrath Drive. A. Creats additional hntarcfs far these two KeovHy used school 5, Add !o oir and noiss collution in area involved. Those of us who attended the Public Meeting sincerely felt that any developsf seeking such an extraordinary as closing of o street would present a valid flnd airtight cose in support of his application. No such case was presented or even attempted. We, therefore fail to understand why any member of City Council could possibly be in favor of such closure unless some former commitment was made. If thii were so the public meeting was a ihani. Furthermore, we respectfully suggest that the tals of a ctly avsnua to a private developer creates a dangerous precedent. CHy Council has never revealed ths price of the land. If Fourth Avenue were 1o be closed to provlds a playground or park area end merged with the green-strip surrounding the adjacent reservoir for recreational purposes of the neighborhood children then perhaps ihe residents of tha Glendala area would favorably consider its closure. However, under the present circumstances we urge you to respect the wishes of the residents living in the area which would be affected by the passing of this By-Law and CITIZENS OF GLENDALE AREA AGAINST CLOSURE OF 4th AVENUI SOUTH. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, Keadhouse and McCuaig) LAST BID OK SALS a.m. Quotes) WESTERN Alminex Asamera Banff BP Gai Can South Cdn Ex Gas Ashland Cdn Homestd Cdn tong Is Cdn Super Cen Del Rio Chief tan Pets Gt Plain's Mill New Cont North Cdn Oft Numac Permo Pcrmo Petrol Pfnnacte Place Gas Ponder Ranger Scurry Rain Spooner W. Decalla OILS 15.37% 13.50 5.5S 5.3S 4.65 9.00 7.55 .5T 39.00 11.25 7.75 1.30 30.08 1.88 .92 8.08 .62 .82 1.48 .93 1.2S .65 14.00 23.50 2.17 6.58 1.DS 2.00 1.10 .64 5.85 29.50 1.25 .09 MISCELLANEOUS INDUSTRIALS Atco ?.50 Aniifiiilinft 25 75 Brit Nfld 4.96 Cdn Hydro Car 14.62V Cdn Pacific Inv CPR Pfd Cygnus A Cygnus B Cum Prop Gt Cdn Oil 5 Horns A Home B Home Pitfld Hud Bay Co 15.1ZV Hud Bay Oil 38.00 Hud Bay Oil 54.25 Husky Ofl Wnr 23.2S 4.CO 27.12V 27.50 1.70 C1UOQ a.m. euofes) Inter Prov 13.50 Inter steel Pips 7.37V Jefferson Joutel Kaiser Ret Karn Kotla L Ont Port Cera MGF Managa Mentor NewconaK Pacific Rank Org Shell Inv Shell Jnv Wts West Cdn .Seed While Yukon CALGARY Acroil Ana Barons Oil .0 North Cont .0 Plains Peta .3 West Warner .i Madison .2 Bexdale .1 PIPELINE STOCKS Alta Gas Tr L A 49.00 Alta Gas Tr L pfd 75.00 Alta Oas (Nat) 23.25 Inland Nat Gas 10.25 N and C V.VVi N and C 8 Pfd 29.25 Gaz Metro 4.75 Tr Cdn P 33.75 Tr Cdil P Pfd 41.75 Tr Cdn P Pfd A 62.00 Tr Cdo P War 11.75 Westcoast Tr Western Pacific 4.69 MUTUAL FUNDS AGF Special 2.28 All Cdn Com 7.33 All Cdn OlvU 7.W All Cdn Vent 3.24 3.54 Amr Gr F 4.59 5.04 Cdn Gr Cdn Invest Col Mutual Cmnw Inter Cmnw Lev Corp tnvest a.m. Quotes) nrevfts? p u.S, 10.60 11.W Gr" Equity 5.11 6.27 Gr In Sharet 3.02 3.32 Invest Gr 9.82 10.74 invest Mutual SM IQS Vent 3.30 Mutual Ac Fund 4.70 Mutual Gr F 5.11 5.i2 P 4.25 4.SS 5.40 5.93 11.23 12.31 2.78 3.05 Corp In'S' 5 F 4 Js Mutual In Nat Res N W Fin N W Gr N W Equity Prlncfpsf Gr Prov Mutual Regent Fund Unfied Ac Universal Sav VANCOUVER AntA Arctic Mining Atlas Explor Beth Copper Bornlta B.C. Sugar Capt inter Churcnii] Copper Coronation Credit Croyden Dolly Varden Dynasty Fort Reliance Giant Mascot Granlsle Key indust Hy's Interior Brew Jerlche Copper Lornex Lytton Mlnereif Madrona' New Cronln New Imp Mines Okanagan Heltcop Primer Pyramid Silver Stand Trojan Western Mines Wesfcosst Res Western Explor Utica 4.55 5.0S 7.51 3.58 3.93 4.33 4.7S 4.73 5.20 3.99 (SI9 6.77 7.BB fl.91 4.27 4.69 7.21 .19 .18 .62 .11 16.00 4.25 1.10 1.05 .22 .38 10.62% .30 2.35 5.00 .08 .15 6.25 2.5! 43% .08 2.32 3.10 .15 .25 1.40 .27 Toronto mines, industrials Supplied by Rlclmrdson Securities of Canada LAST BID OK SALE a.m. Quotes) a.m. Quotes) s.m. Quotes) INDUSTRIALS Abltlbl Alcan Algoma Steel Atco Iftd Allan Sugar Bell Gel Brazil Traa B.C. Tel Burns B.C. Forest B.C. Sugar CAE Ind Cdn Chemeell Col Cellulost Cal Posver Coron Credit CWN Gas Cdn tndust Canada 5 S Cdn Marconi Cdn VicKers Chrysler CPR Cominco Cons Bath Cons Gas Dlst Sea Dom Brldgft Domfar Dom Dom Store- Dome Dofasco Fam Play Fd of Amer Gt Cdn Oil Gen Molors Gt takes Pap Gulf Oil Cda Greyhound Hawker Sid Huron, Hiram Walk Imperial 7.23 21.50 13.50 9.50 7.75 45.75 15.50 60.00 7.75 Molsons A Molsons B North, Cent Pemblna Pp Power Corp Price Co Rothmans St Law Corp Shell CDA Simpson's if Can 4 30 Selkirk A 16.00 7 Da Texaco 4.30 Traders. Gp _A 5.50 26.00 Trans Mm Pp Trans Can Pp JSJ Union Gas Union Oil 9.50 VersatlH Mfg Union Car Weslon's B Ami Woodward's A West Cdn Sd Zenith Elec 9.00 1BJ7'A can Imperial 48.62V4 Montreal 17.50 Nova Scotia 1J5J Royel 12.50 Tor-Dom MINBS Acmt 22.2S Advocate Asb. Akalfcho Area Mines Belcher Iron Black Bay 14.25 14.55 14.6HA 23.75 4.80 7.00 10.5Q 19.03 16.58 21.50 54.75 10.00 27.53 9.00 34.08- 15.00 00 3.30 9.00 20.00 16.25 3.75 1.25 10.25 50.00 4.00 77.25 17-55 18.75 "aim. Broulai wick la Tung. ial Inf Nkkel Int Pipe Inv Gp A Inr Utilities Intfusr Accept Laureitttde Kelly Doug A LoDb Loblaw A Metro Stores Massey Ferg McMillan Blot Moors corp A37% Cons. Rambler 34.87'A Coln Ljfcfl 16.50 Craigmonf Dickenson 8S Denlson Mines 3'90 Deer Horn 4.BS D'Eldofia 27.00 Dome Minei DonaSda Discovery Mines' East Msisrtlc 15.50 3.00 .43 1.60 4.25 2.08 22.50 1.42 9.B5 .94 .15 9.0S 1.M 22.00 East Sullivan Falconbridge Frobex F'rst Marltimes Giant Y.K. Gunnar Headway R.L. Holllnger Hud. Bay M-S Hydra Ex. Highland Bell Iron Bay ISO Joller Quebec Kerr Adrfison Key Anacon Labrador Lake shora Lanqis Silver Macassa Madsen R.L. Malarllc G.F. Martin McNeely Maybrun Maclntyre Midrlni Intern Mogul New Alhuna a New Calumet i New Imperial Noranda Opemlska Oslsko Palino Pine Point Placer Dev. P.C. Exp. Quebec Man Rayrock Radlora Rio Algom Roman Corp. SBverllelds Sherritf Gordon Silver Miller Steep Rock Slscoe Tek Corp. Texmont Upper Canada Western Mines Wright Har. Willray r Windfall Yellowknlfe Br. Zenmac 4.70 135.60 .21 1.06 9.75 1.15 6.75 9.50 36.00 17.75 .Wh 2.65 3.10 1.90 .2m .27 33.00 3.25 .10 1.11 .30 10.00 ,13 .25 2.32 8.95 9.75 .37 30.50 31.12% 29.62'A .67 JiJ .28% 1.75 14.75 .07 2.50 1.81 6.65 ,47'A 2.12 3.45 New York stocks Supplied by HichardsoE, Securities ol Canad> Amr T and T 4J.87Vi Mmtgomery Ward S9.87J4 20 Golds 781.52 off .12 Anaconda 22-00 Scars 74.25 10 Base Mef 90-32 off ,35 Bth Sleel 20.1214i Sid Oil of K.J. 15 W Oils 197.W up 1.42 Chrysler 27.87'A Texas Gulf 115.62W Volume Ccmsaf Texas Co 33.75 NfW YORK AVERAGES Dupont 123.W Woolworlh 3i.iW, 30 Indus! 787.92 op O.S7 Genera! Molors WesImghoUSa Else 64.E7IA 20 Rails up 1.51 Gul! 30.00 U.S. Sleel 15 Utllliies niU up M Int Harvester 27.00 TORONTO AVERAGES 45 Slocks 252.3? up 2.02 Kenn Copper 20 Indus! 'e7.S8 up .58 Volume Hog prices EDMONTON (CP) Hog prices to U a.m. provided by the Alberta Hog Prod u c e rs' Marketing Board: Edmonton: Quoted 24 to 24.10, selling 24.10, average Fri- day 24.55. Red Deer: Quoted 24.05, aver- age Friday 24.53. Calgary: Quoted 24.15 to 24.25, selling 24.25, average Fri- day 24.60. Lettbridge: Quoted average Friday Lioydminster: No sales, aver- age Friday 24.50. Sow prices 12.89. Hogs sold to 11 a.m. Hogs sold1 Friday provincial average 24.56. Dividends By THE CANADIAN PEES B.C. Sugar Refiaery Ltd., pfd, 25 cents: comir'm 20 cents plus an exiri 20 coats, both Jan. S3, record Jan. 8. T. G. Bright smtt Co. Ltd., 10 cents, Dec. 31, record Dec. 11. B.C. SUGAR ANNOUNCEMENTS L, A. Woorf John M. Reid The appointment of Uncoln A. Wood as Genera! Purchasing Manager of B.C. Sugar and its subsidiaries, Canadian Sugar Factories Limited and The Manitoba Sugar Company Limited is announced by Forrest Rogers, President, Mr. Wood has been associated with ihe organization since 1936 and is a charter member of the Purchasing Management Association of Calgary He will be located in Vancouver in his new responsibilities. The retirement of John M. Reid as Central Purchasing Manager Is also announced, Mr. Reid joined thft organization as an office boy In 1920 and has served tho Company for 50 years, the past 39 years In his rocent capacity. He Is a senior active member and former presi- dent of the Purchasing Management Association. Round three of railway battle opens next week By JOHN MIKA Herald Ottawa 'OTTAWA Round Three of the great railway battle over coal contracts opens fesre Dec. 7 with the twice-detested BOT- lington Northern Incoiporated- Kootenay and Elk Railway oartaersliip coming oa stronger ihan ever, Tlieir opponent Is (be Cana- dian Pacific Railway. The ref- eree is the Canadian Transport Commission. A multi-bfllion-doBar busi- ness ha ling new Rocky Moun- tain coal production to'market in the U.S. and Japan is the prize. It seems nearer BNI- K and E grasp than ever be- fore for two reasons: the leap- ing demand for therual coal to supply electrical utilities in the U.S. and Canada's desire to export more oil and gas to the VS. The whole struggla between the two giant railways has been influenced by national policy j throughout and that seems to be shifting now. The nub of the question is whether K and E, a subsidiary of Crow's Nest Industries Ltd., is to be allowed to build 80 miles of track from Sparwooct, B.C., to the Montana border where BNI would add new track connecting "with, its main- line the Pacific North- west That question was decided In Round One on a political basis in 1968 by then-Transport Min- ister Paul Hellyer who made it a condition of developing Rob- erts Bank superpori that Rocky Mountain coking coal must be hauled over an all-Canadian rail route to the port for trans- shipment to Japan, CLAIM DENIED Last srpicg, Round Two was decided here by a CTC hearing which denied the BNI-K and E claim, supported by the B.C. government, that only the province's consent was needed to build the 80-nale track to connect with now-t'ardous half-inch gap at the border with a new BNI that would join its mainline in the U.S. That round, won by the CPR, was purely jurisdictioival spar- ring and the coming hearing will finally get down to the merits of whether large amounts of coal should be add- ed to the CPR unit-train traffic or be siphoned off southward to be Hauled over TJ.S tracks. Since the spring, however, both railways have bean ap- proached by 'a (nasorrium qj private and public electric util- ities in the Pacific Northwest to see either could supply up to three 'mfiifon tons an- nually of thermal coal for the next 35 years to a new plant likely to be sited in Montana. Thermal coal is a by-product of the coking wil screening and washing process at Kai- ser's, plant UC.TT Spanvood which can't be now and creates a waste disposal prob- lem. The CTC tribunal will be ob- liged to weigh1 carefully the potential double- of preventing waste s.'sgheaps from piling up at Canadian mines while opining up a new 1 and lucrative export market. (Prices haven't been quoted for this particular proposal but elsewhere thermal cos! has shot up a ton In the past year to the level because of the critical shortage in the The odds on supplying this market rest heavily on the proposed BNI-K and E line and are 'heavily against the CPR Besides the thermal coal, the southward toe is expected to feed 1.5 million tons of coking coal annually to the Kaiser steel plant at Fontana, Calif., at the price level of about 17 a ton. And, ol course, about seven million tons of coke annually would be hauled over the U.S. tracks for Japanese export from Roberts Bank. (The only non-coal traffic projected f6r Hie new line wmld be about tons an- nually of wood products shipped to the U.S. from the Kootenay area.) However, perhaps the most important single event that might decide the final outcome of the battle between the rail- ways will be an almost unno- ticed paragraph in the official communique that wound up the annual Canada-U.S. ministerial talks here Nov. 24. Attention centred on the pros- pects of western Canadian oil gaining free access to the U.S. market next year. Virtually ignored was fin to- congruous U.S. ministers' agreement of "the Importance of coal produced in the United States to the steel industry and to thermal power in eastern Canada and the importance of the Canadian market to United States producers." Join the IN' Crowd! IN Ownership! IN Management! IN Profit Sharing! Just like the many thousands of who have found that Co-op way o! owner- ihlp and business know-how has provided thsm wffh all ef thess things plus other bans- fits, you too can gain a new and exciting experience by joining the Purity Dairy Co-op Limited. THE MEMBERS OF PURITY DAIRY CO-OP LIMITED INVITE YOU TO JOIN THIS PROVINCE-WIDE CO-OP ASSOCIATION For full Information ask of our member! or phone the local office 327-1525 OR CLIP AND MAIL THIS ENQUIRY PLEASE SEND ME INFORMATION ABOUT I PURITY DAIRY CO-OP LIMITED ADDRESS PtEASE PRINT I TELEPHONE PURITY DAIRY CO-OP LIMITED i I Enquire at your local office Edmonton, Calgary, i Lethbridge, Red Deer and Medicine Hat or any i member. your garage doors theso cold wintry days. Install A Remote Control STANIIY-BERRY AUTOMATIC GARAGE DOOR OPERATOR An ideal gift the man who has everything S1 flQ SPECIAL I 48" x 90" x 4 MM. PREflNISHED LIGHT OPEN A CRESUINE BUDGET ACCOUNT I CRESTLINE BUILDERS MARKET LTD. 'IFTHBSIDSIS INDEPENOfNT BUIIDING SUPPLY HEADQUASTER5' 123 30th St. N Phone 3J7-5444 or 327-SUO NO DOWN PAYMENT IASY MONTHLY TERMS ;