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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 7, 1971, Lethbridge, Alberta possibi couver capital gain Is taxable ant1 the Moose Jaw gain is tax exempt, their competitive positions in attracting capital arc evened out a little. The idea of a .selective capl-al gains tax on the ype of investment involved or region in which the gain is made has been vigorously re-cctcd by most tax authorities. >articularly in the federal government. In Bill C-259, the new ax system calls for a universal capital gains tax. The main reason for the rejection of se-ectivity is that once you exclude from taxation the gain made on one kind of investment, pressure is brought to exempt others, and so on. Nevertheless, there is still a even a likelihood, we will see this occur in the near future. At least two provincial governments are known o be considering the introduc-.ion of capital gains tax rebate cgislation, much as Alberta and Saskatchewan did with es-ate taxes. The ability of a province to rebate the provincial share of capital gains tax stems from :he fact that tlie new tax arrangement establishes a com-ained federal and provincial Lax sharing plan. The present ilan envisages 30 per cent of the :ederal tax being rebated to the provinces where the profit was made. Clearly, some of the provinces will set higher provincial rates, perhaps closer to 40 per cent of the federal tax. KEBATE PLAN Thus, where a capital gain is made and taxed, as much as 40 per cent of the federal tax will be paid to the provinces where the gain was made. This leaves the province free to keep the tax or rebate it lo the taxpayer. A few days before the Saskatchewan election in June, the late premier Ross said if; his government were re-elected, he would introduce s capital gains tax rebate plan for fanners. There can be many on that theme. Suppose Jie government of Manitoba, :or example, decided it wished :o create new jobs and stimulate activity around the Winnipeg fAock Exchange. It could enact a conditional capital ;ains lax rebate plan whereby it would rebate to the taxpayer !he provincial share of the capital gains taA on profits made on shares listed on the Exchange, provided they were Ixmght and sold through a Manitoba based brokerage muse. The likely result would be that many investment companies would locate their offices in Manitoba to qualify as Manitoba taxpayers. Manitoba brokerage houses might need more staff t handle the increased volume business. Most public companies would like thcir shares on tho Winnipeg Exchange, thus increasing its activity and profits. All in all, a good job creating project and the government of Manitoba wouldn't lose because it would only be rebating tax revenue it wouldn't otherwise receive anyway. Till- is only one of many potentials that can arise if the provinces decide to use the tax rebate system as a vehicle in the battle for regional development. The lesson of the Saskatchewan and Alberta estate tax rebate plan is powerful evidence that Ihe province with the best tax climate will find it easiest to attract capital and development. Capital gains tax rebates might well become a popular development incentive. (Mr. Aspcr is a Winnipeg sa I 3nally trading on the Montreal stock market today. Combined volume on the Montreal and Canadian Stock Exchanges at 11 a.m. was shares compared with at the same time Wednesday. On index, utilities dropped .38 to 149.81, the composite .39 to 176.53 and papers .38 to 70.27. Industrials rose .73 to 178.44 and banks were unchanged at 208.88. Highlighting gains, on the Montreal Stock Exchange, Roth-mans rose to Maritime Electric SI to and International Utilities to Among losers, Rio Algom dropped to and Mac-MUlan Bloedel to quotations Vancouver, Calgary, Montreal (Supplied by Doherty, Uoadhouse and McCuaig) LAST BID OR SALE Ouotei) (lliOO a.rrf. Quotes) Ouotfi) WESTERN OILS Husky Oil M.tVfi Corp In St Fd S.14 Almlnex 5.M Husky Oil Pfd B a.m Drey Fd U.S. MM Alls East Gss 5.30 Husky Oil War 7.00 Gr In Shares 3.33 3.6! Asamera 17.37'A Inter Prov P pe 11.J5 Gr Equity 6.04 6a Ashlund Oil ll.iitt Inter Prov Steel 7.B7V4 In Gr Fund 10.5811.57 B. P. Oil, Gas 4.75 Joule In Mutual 557 5.7J Cdn South. 6.JO Knlser HS Cdn Export Gas i. 00 Kam Kotla -34 Mut Gr Fd 5.16 5.67 Cdn Ind. Gal lo.MH Lake Dufault 11. Nat Resources 7.57 Cdn Lono Is 5'. L Ont Port 2.M N.W. Finance 4.39 4.8! CdS Superior miPA 70 N.W. Growth 5.50 6.04 centra Del Rio 16.25 Ntwconex 4.90 Prin Growth 4.17 4.SB Charter 5.55 Pacific Pels SUVA Roytund 5.57 5.74 Chletlan 800 Rank Organ. 1B.75 Temp Growth ISM 27.4B Dome Pen 37.25 Selkirk Hold. 15.12V] Un Accum 4.84 5.3! Dynamo 1.23 Shell Cdn Savings Ml 7.63 Great Plains 33.00 Shell Inv. 3S.62V. VANCOUVER Lochlel Expl. 1.35 shell Inv. Wts. IS.SCVj Anuk .21 Mill Ci y 2.44 sicks 2.SO Artie Mining .06 New Cont. .75 Teledyne 3 r.5 Atlas Expior .32 Norm Cdn oil 6.80 west Cdn seed 4.50 Bath Norselines .46 Numac 12.75 Whllepass 9.B7V4 Beth Copper 17.50 Permo 61 rftir-ABV Block Brothers 3.00 13 CALGARY Bnaia 3 Pinnacle 59 probably say it is the new capi-al gains tax. Of all features of he new system, it will have the most influence on patterns of investment, buying and selling of assets and the like. Collaterally, if one were to dentify the most effective the provincial governments rill have in the competition themselves over at-racting new industry and cap-tal investment, once the new ax system begins, it is the use of a capital gains tax rebate )lan. IU introduction is cer-.ainly a possibility. When the Carter Report aid 'ederal white paper on tax both advocated a capital tax, some critics, clearly a minority, argued that a full capital gains tax was inappropriate for a capital short which still requires stantial economic development. They urged that if Canada was to have a capital gains tax, it should at least be selective, rather than universal, and geared to regional needs. In simpler terms, it was felt that capital gains made on real estate, listed securities and other similar investments where there Is an adequate supply of capital, would be an appropriate source of taxation, but that such gains made on the sale of farms, galas resulting from new scientific discoveries, or the discovery of new natural resources and other selective activities might be exempted in order to attract capital investment to those areas of the economy. It was also argued that capital gains tax exemption could have been used to attract investment to slow growth regions of Canada. For instance, the profit potential may be greater in Vancouver, British Columbia, than in Moose Jaw, Saskatchewan, but if the Market pr rise fractii TORONTO (CP) Prices on he Toronto stock market edged ractionally higher interrupting wo consecutive declining sessions, in slow mid-morning trad-jig today. The industrial index was up 33 to 170.36 and western oils .79 o 233.59. Golds dropped .31 to 59.42 and base metals .30 to 78.23. Volume by 11 a.m. was shares, compared with 519000 it the same time Wednesday. Beverages, oil refining, in-justrial mining, general manu-acturing and merchandising svere among the market's strongest sectors. Ten of the in-lustrial index's 17 sub-groups moved higher. Falconbridge climbed to (80, Rothmans to Tara to International Utili-ies Vt to Rank 3i ind Imperial Oil li Canadian Tire A was up to Bow Valley Vz to S29V4, Hollinger Vt to Dome Pete Vt to and Gulf Oil o MacMfllan Bloedel lost VI to Lab all Vs to langer Vt to !i, Hudson Bay Hining !s to and Bank of Nova Scotia 'i to MONTREAL (CP) Prices were down slightly in very Lethbridge Livestock (Supplied by Canada Department of Agriculture) On offer to a.m. 325 cattle. Receipts mostly choice butcher steers and heifers. Cattle market active. Good and choice jutcher steers meeting good demand at firm prices. Good and choice butcher heifers sell readily at steady to strong irices with odd sales to 29.40. The few cows on offer selling steady at the weeks lower levels. Bulls steady. Medium and heavy feeder steers good demand from local Diiyers at firm rates. Choice steers 30.50 to 31; good 29.75 to 20.25; medium 28.50 to 29.75. Choice heifers 28.50 to 29; good 27.25 to 28.25; medium 26 to 27. Good cows 22 to 22.75; medium to 21.50; canners and cutters 18 to 20. Bulls 24 to 25.50. Good heavy feeder steers over 750 Ihs 30.50 to 32.25; medium 28 to 30. Butcher hogs sold Wednesday Lethbridge 23.95 to 24 base price. Calgary livestock CALGARY (CP) Receipts to 11 a.m. Thursday at the report gary public livestock yards were head, mostly good to choice slaughter steers and heifers. Trade was active with a good local and eastern demand. Slaughter steers were 25 cents higher with sales to 31.50. Over-finished steers w e e sharply discounted. Heifers were 50 cents higher and cows sold steady with good kinds scarce. Bulls barely steady. Choice steers 31 to 31.40, good 30 to 30.75, medium 28.50 to 29.75. Choice heifers 29.50 to 30, good 28.25 to 29.25, medium 27 to 28. Good COWS 22.50 to 23.50, medium 20.50 to 22, canners and cutlers 17 to 20.25. Good bulls 23 to 25. Replacement cattle were in short supply being most'.y fleshy steers selected YORK (AP) Slock prices pulled back from sharp early gains but continued slightly higher today in heavy trading. The noon Dow Jones average of 30 industrials was ahead 1 .61 at 902.16. Among Canadians, Mclntyre Porcupine rose a point to Dome Mines was up at and Genstar at Distillers Seagrams was ahead at International Nickel and Walker-Gooderham were off Vt, at and respectively. On the American Stock Exchange, Imperial Oil was up Vt at Also ahead Vt was Bras-can at Jupiter Corp. was down Vt at Potato futures WINNIPEG (CP) Maritime potato futures Wednesday: CLosc Tire Nov 2.35N 2.25N Mar 2.60N 2.BON Apr 2.G8N 2.68N May 3.05A 3.05A Tuesday's volume: No sale EDMONTON (CP) Average prices to 11 am. Thursday provided by the Alberta Hog Producers Marketing Board. Edmonton: 23.75. Average Wednesday Red Deer: 23.75. Average Wednesday 23.94. Calgary: 23.75. Average Wednesday 23.89. Lelhbridge: No sales. Average Wednesday 23.98. Lloydminster: No sale. Average Wednesday 23.35. Grande Prairie: No sale. Average Wednesday 23.13. Hog sales 568. Hogs sold Wednesday 3.790. Average 23.91.-Sows average and stems 1003 4th Avenue S., lethbridge Telephone 328-4426 JUatx TMSfJil By Gene cattle offered. Stock calves sold steady. Good feeder steers 750 pounds up 31 to as .20 good feeder heifers 600 pounos up 28 to 30. Good stock steer calves 36 to 43. Good stock heifer calves 31 to 35. Hogs base price 23.75. The Calgary market will be closed Thanksgiving Day, Oct. FETAL LIFE CAN NOW BE DETECTED AS EARLY AS 10 WEEKS EsYA SOWAR UNDERWATER SUBMARINE DETECTION. REFLECTIVE AUDIBLE SIGNALS ARE PRODUCED PROPORTIONALTOTHE VEtOCITY OF H.COD ORT1SSUE MOVEMENT IN THE WOMB... BIRTHS BE PREDICTED CANADIAN SEED PROCESSORS LTD. NOTICE OF PARTIAL REDEMPTION TO THE HOLDERS OF 7% SINKING FUND DEBENTURES, SERIES A OF WESTERN CANADIAN SEED PROCESSORS LTD. DUE NOVEMBER 1, 1980. MOTICi IS HEREBY GIVEN that pursuant to the Trust Indenture made as of October 31, 1960, between WESTERN CANADA SEED PROCESSORS LTD. and BRITISH CANADIAN TRUST COMPANY Trustee, succeeded by the CANADA TRUST COMPANY as Trusten securing such debentures, principal amount of 7% Sinking Fund Debentures Series A of WESTERN CANADIAN SEED PROCESSORS LTD. bearing the under-mentioned distiguishing numbers and letters and of the under-mentioned principal amounts have been drawn by lot by the Trustee for redemption (in wholo or in part) out of sinking fund monies on the 1st day of November 1971, ond such debentures or the portion thereof called for redemption will therefore, be redeemed on the 1st day of November, 1971, at the principal amount thereof upon surrender of thu said debentures with all unmatured coupons appertaining thereto in lawful money of Canada, at the Canada Trust Company, 3rc Avenue and 7th St. South, Lethbridge, Alberta. Coupon Debentures in denominations of each called in full: A1473 A1566 A1691 A1799 A1475 A1569 A1725 A1834 A1484 A1581 A1726 A1860 A1493 A1584 A1731 A1861 A1502 A1594 A1746 A1876 A1511 A1609 A1760 A1519 A1620 A1766 A1560 A1687 A1768 Coupon Debentures in denominations of each called in full, A0008 A0246 A0454 A0730 A0036 A0262 A0463 A0741 A0043 A0264 A0467 A0743 A0062 A0285 A0468 A0768 A0080 A0333 A0479 A0772 A0102 A0334 A0492 A0778 A0130 A0335 A0496 A0827 A0134 A0345 A0509 A0861 A0159 A0346 A0541 A0862 A0160 A0363 A0576 A0869 A0178 A0370 A0600 A0892 A0179 A0371 A062.I A0914 A0183 A0384 A0635 A0927 A0185 A0407 A0679 A0953 A0191 A0426 A0688 A0229 A0429 A0692 A0240 A0439 A0709 Coupon No. 22 due November 1, 1971, should be detach, ed from tho Debentures before presentation and cashed by this holder in the usual way at any bronch in Canada of the Bank of of Montreal. NOTICE IS ALSO HEREBY GIVEN lint in accordance with the term, of ihe said Trust Indenture all interest on any debenture specified ii this notice as having been drown for redemption or ony portion there of to bo redeemed slioll cease from nnrl after thft 1st day of November, 1971. Dated at Lethbrdige this 16lh day of September, 1971. WESTERN CANADIAN SEED PROCESSORS LTD. By J. J. BANHELD, Expculivft Vicc-Tirs drnt and pn Winnipeg Grain WINNIPEG (CP) Trading was extremely b'ght at mid-session on the Winnipeg Grain Exchange today with prices generally unchanged. The only trading was in rape-seed where light commission house and exporter activity had prices up to two cents higher. Flax was not open and oats, barley and rye activity consisted mainly of bids and asks but few sales. Wednesday's volume of trade was bushels of flax, of rye and of rape-seed. Mid-session prices Flax: Oct. >i higher Nov. higher 2.27M3, Dec. Vs higher 2.26ViB. May higher 2..17A. Rapeseed Vancouver: Nov. m higher Jan. 1 higher March lss higher June unchanged Rapeseed Thunder Bay: Oct. Ts higher Dec. higher May unchanged July unchanged 2.50'iB. Oct. unchanged Dec. V-. lower HTkA, May unchanged Barley: Oct. unchanged 1.01A, Dec. '.a lower I.ONiB, May unchanged review Rye: Oct. Vs lower DC'. lower May Vt lower 95B. High Low Close .Flax Oct 227% 226% 227'A Nov 228% 227% 228% Dec 226% 227% May 237% 237 237% Rapeseed Vancouver Nov 267% 26- 266 Jan 263 258 262% Mar 259 254% 258 V4 Jim 253 Rapeseed Thunder Bay Oct 248% 243% 247% Dec 249% 244Vj May 257% eye oil EDINBURGH (Renter) Scottish Nationalists are planning a campaign for all royalties from oil found under the sea off their coastline to be kept in Scotland. The Nationalists" leader, Robert Mclntyre, said Wednesday that all indications are that Scottish oil finds were of fabulous proportions. He put the value at billion a BKAUSEOfTHCttKeCTlOtlAl HAnjReoFTHepaoBe! Toclla.n ojrl.i.. Im smp.d. tfll odd.ontd, 10 NEWIt.oConado W.J., Ll_ approve OTTAWA (CP) A loan has been approved for the Ennineskin Indian band to help in relocating and improving houses for Indian families in Hobbema, Alia., Central Mortgage and Housing Corp. announced today. Provided under the National Housing Act, the loan will be used to relocate 14 housing units owned by the band to a location on the reserve for Indians the Ermineskin tmvnsite, where they are to bo renovated. The units will be leased to Indian families at rates based on the family's ability to pay. Operating deficits are to be borne by the MAJOR OIL COMPANY HAS FOR LEASE HIGH VOLUME SERVICE STATION WITH COFFEE SHOP AND UVINC QUARTERS ATTACHED Located on Highway No. 3 Apply to BOX 110, THE LETHBRIDGE HERALD Giving Particulars of Experienca and Capital 250% Oats Oct 64% Dec 65 May 65% 65% 65Vs Jly 66V4 Barley Oct 101 lOOTs 101 Dec lOlVs 100% 101 May 101% 100% Jlv 100 Rye Oct 83% 86% 88% Dec 90% 89 90% May 97 95 futures WINNIPEG (CP) PAINT (WESTERN) Tue. Nov 32.70B to make Things EASIER Aerators Ics Cream Belt Reducer Maker Bicycles Jacks Bolt Cutlers Knee Kicker Camping Ladders Stoves, Tenls, lawn Mower etc. Lawn Rollers Cor Pullers lino Roller Roomers, elc. faint Sprayer Cement Mixers, Plumber-Trowels, etc Snakes, ett. Chairs Post Hole Coffee Urn> Digger! Cols Pumpi Crone-Hoist Power Rako Cribs Roto-Tiller Dishes Play Penl Glasses Sonders Goblets Punch Bowls Sharnpooert Silverware Sauna Baths Demolition Tables Hammer Tow Bars, elc. Drills Wallpaper Gun Remover Exerciser Bikes Wheelbarrows High Chair etc., etc. Open 7-7 (except Sun. rind holidays) CALL WARDS FOR YOUR RENTAL NEEDS 1712 2nd Avo. S. Ph. 32.70A 31.85N '-v. ALBERTA RED Barn or Shingle PAINT volume: Eight SUPINTENDENT required by PARKLAND REGIONAL RECREATION Applications are invited lo fill the position of Recreation Superintendent for the Parkland Regional Recreation Council. RESPONSIBILITIES 1. The Department Mead respnnsible lo Parkland Regional Recreation Council. 2. The management of budgets, stoff and programi. 3. The development of policy statements for all aspects of proqram, leadership, faculty uso and development. EDUCATIONAL REQUIREMENTS 1. B.A. or BSc in Recreation Administration or related degrees and training. 2. Five years of full time experience in tho administration and management of a recreation service. 3, Bo fully familiar wHh Provincial Government services, grant programs and the ph of regional development. 4. Tho personal and educational qualifications to membership in thn Professional Institute of the Alberta Recreation and Parka Association. SALARY Starting at to Application can bo made lo Mr. N. Asposlet, Vice-Chairman, Parkland Regional Council, Box 130, Evanburg, Alberta. Pioaso givo persona) qualifications, rrsumo of oxporiflnco, references ond any other pertinent information on or before November 15th, Barn or Shingle PAINT Red or Green Reg. 6.95. M 9Q Fall Special ft Gallon MOORE BARN PAINT Vermillion Red Reg. 9.95. JV49 Fall Special Gallon BENJAMIN MOORE Exterior Ono Coat SUPER WHITE and colors. Fall Special 'Mr Gallon LINSEED OIL n your container O CQ Gallon A.J7 POLYFILLA Mb. PntkciOB Purposo EXTERIOR WHITE PAINT Rug. 6.95. M 29 Fall Special Gallon FREDDIES' PAINT ;