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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 2, 1974, Lethbridge, Alberta Wednesday, Octobtr 2, 1974-THE LETHBRIDGE HERALD Damaged crops Three Fraser Valley, B.C. farmers are shown examining the damage done to crops by a car which drove onto the fields allowing corn thieves easy access to the crop. They say damages and thefts in the valley this year could cost farmers many thousands of dollars. Housing construction drop causes growing shortage OTTAWA (CP) Benefiting from the bulge in housing starts late last year, home-buyers had more houses to choose from in August than they did a year earlier. But the sharp drop in hous- ing construction in recent months indicates a growing shortage. A Central Mortgage and Housing Corp. (CMHC) sur- vey reveals housing com- pletions in the first eight months of the year were about three per cent higher than the corre- sponding figure last year. This includes a 5.4-per-cent jump in new single-family homes and a 3.1-per-cent increase for rental units. With this healthy comple- tion record, the number of un- Sony Corp. shares on exchanges VANCOUVER Sony Corp. of Japan shares will list on stock exchanges in Van- couver, Montreal and Toronto starting Thursday. Sony's entrance to the ex- changes is sponsored by Richardson Securities of Canada and Wood Gundy Securities Ltd. The corporation, .which is listed on five Japanese ex- changes, as well as European. Asian and American ex- change, has authorized capital of 424 million common shares with par value of 50 yen each, of which 172.5 million are issued and outstanding. Approximately 309 yen equal Canadian. The shares to be listed in Canada are American depositary shares representing one Sony com- mon share each, of which 18-08 million are authorized and 64.38 million are issued and outstanding. The ads shares represent approx- imately 3? per cent of the out- standing common shares. Sony will be the first Japanese company to list in Vancouver. occupied houses and duplexes was at the end of August, up 17.4 per cent from the same time last year, CMHC said. But urban housing starts in August were about 24- per-cent down from the same month last year. For the first eight months, urban starts were nine-per-cent down from the corresponding period in 1973. CMHC sources say builders take nine to 12 months to com- plete units. Housing construc- tion started to slide below last year's levels in June. The worsening apartment rental picture is reflected in rental unit starts showing an 18-per-cent decline to in the first eight months this year from the same period last year. Illegal use of oil cuts gov't taxes HALIFAX (CP) Paul E. Moreau, Quebec's deputy minister of revenue, said Tuesday home heating oil is being substituted illegally for diesel oil in trucks, depriving governments in North America of hundreds of millions of dollars in highway fuel taxes each year. Mr. Moreau told the 48th an- nual North American Gasoline Tax Conference that all fuel tax administrators are aware that substantial losses are suffered because of the il- legal use of heating oil and "in our opinion, the evasion of the diesel fuel tax has gone out of control." Investigation in Quebec and elsewhere brought to light widespread rackets and organized crime operations in this field, he said. A study in Iowa revealed that the state was collecting only million in diesel fuel tax when million should have been generated. A similar study in Quebec revealed an annual loss of at least million, about 30 per cent of the amount of tax ac- tually collected, he said. In Manitoba, a dyeing pro- gram for heating oil was put CONTRACT AWARDED TORONTO (CP) Pitts Quebec Ltd., a subsidiary of Pitts Engineering Construc- tion Ltd.. has been awarded a Sl.35-million contract by Incan Ships Ltd. to construct a railcar ferry wharf near Quebec City, it was announced recently. into effect in 1964 and three years later the sales of diesel fuel for highway uses increas- ed by 119.4 per cent, Mr. Moreau said. In Quebec, after a dyeing program was begun fuel taxes increased to 'million from million in five years. Brokerage firm to close down LONDON (AP) One of Britain's biggest provincial stock-brokerage firms an- nounced today it will close down Nov. 8 because of lack of business in the depressed stock exchange and national economy. The voluntary liquidation of the Manchester-based David G. Henriques Seal Co. follow- ed a string of security dealer closures as the London ex- change sank to its current 16- year low. Tony Hanbury-Williams, one of the firm's 16 partners, said it has no cash problems. But. he said: "You cannot go on cutting limbs off a living body or it dies in agony. We would rather it died peacefully. We feel that the current economic and finan- cial climate is 'unlikely to change dramatically in the immediate future." SOUTHERN ALBERTA THEATRES CARDSTON Mayfair Theatre "EXECUTIVE Wednesday, Oct. 2 show at p.m. ADULT. FORT MACLEOD Empress Theatre "BLAZING SADDLES" Wednesday, Thursday. Fraday, Saturday, October 2, 3. 4. 5. Wednesday show al p.m. SPECIAL PRICES. ADULT. NOT SUITABLE FOR CHILDREN. WARNING, COARSE LANGUAGE THROUGHOUT. PINCHER CREEK Fox Theatre "EXECUTIVE ACTION" Starring Burl Lancaster, Robert Ryan and Wil! Geer. Wednesday, October 2 show at p.m. ADULT. TABER Tower Theatre "HEARTBREAK KID" in color. Starring Eddie Albert and Sybil Shepperd. Nominated Jor besl supporting Actor and Actress. Shows a1 7.00 and p.m. ADULT, NOT SUITABLE FOR CHILDREN Kissinger plans more travelling NEW YORK to Among speculative issues, Kiena Gold Mines fell 10 cents to after trading 3.400 shares. NEW YORK (AP) Prices advanc- ed slightly'in light trading in a mild and cautious technical upswing in the stock market today. The noon Dow Jones average of 30 in- dustrials was up 1.72 at 606.54, while gainers held a 7-to-3 edge over losers on the New York Stock Exchange. Clorox Co. was the NYSE's most- active issue, down Vi to in a 328.500-share 'block trade. On the American Stock Exchange, the market-value index advanced .59 to 62.68. The NYSE's composite index of listed common stocks was up .19 at 33.58. Among Canadian issues on the NYSE, Mclntyre was up 1 to Alcan lh. to Hiram Walker to Massey Ferguson to Canadian Pacific to and Inco Vt to Livestock Calgary CALGARY (CP) Receipts to 11 a.m. Wednesday from the Calgary Public Stockyards totalled about 1.800 head, mainly slaughter steers and cows. Trade was moderate on steers and heifers and dull on cows. All classes of slaughter cattle met an indifferent "demand. Slaughter steers sold a dollar lower. Heifers were to lower while cows met a narrow demand at prices a full to lower. Bulls sold steady. Steers. Al. 45 to 46.90, A3 44 to 45. Heifers Al. A2 41 to 43. A3 39.50 to 41. Cows Dl, D2 20.50 to 22.20. D3 19 to 20.50. D4 15 to 18. Bulls 25 to 28.40. A few feeder steers weighing over 750 pounds sold steady. There were insufficient feeder heifers or stock calves on offer early to -establish a market. Good feeder steers over 750 pounds 32 to 40. Hogs base price 51. Lethbridge On offer to a.m. 700 cattle. Receipts mostly slaughter cattle. Trade moderately active. Slaughter steers and heifers meeting a fair demand. Prices 50 cents to lower. All classes of cows sell readily. Prices weak to lower. Bulls steady to strong. Replacement steers steady. Steers: Al and 2 45 to 46.60. Heifers: Al and 2 43 to 43.80. Cows: Dl and 2 23 to 23.60, D3 21 to 22. D4 16 to Bulls: 25 to 27.70. Good heavy feeder steers 40 to 41. Butcher hogs sold Tuesday at the Lethbridge Yards 51.80 base price. Good lambs 38. Hog prices EDMONTON (CP) Prices to 11 a.m. Wednesday provided by the Alberta Hog Producers Marketing Board. Tuesday's prices in brackets. Edmonton: 5130 Calgary: 31.00 Red Deer: Nil Lethbridge: Nil Fort Macleod: Nil Hogs sold to 11 a.m. Hogs sold Tuesday 8.242. average 52.06. Sows average 32 85, Currencies MONTREAL (CP) Wednesday's mid-day foreign exchange selling rates supplied by the Bank of Montreal: Bermuda dollar 1.01 Denmark kroner France franc .2130 Gernunv marie .3775. Italy lira .001540 Japan yen .003355 Mexico peso .0605 Spam peseta .0172 Smtrcriand franc .3410 United Stales dollar 9880 'dated Kingdom pound 2.3200 U.S.SR, mMclJ2S98 Quotations in Canadian funds Gold futures WINNIPEG