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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 9, 1970, Lethbridge, Alberta Toronto Market Trading Light TORONTO (CP) Prices were mixed to fractionally lower in light mid-morning trad- ing today at the Toronto stock market. On index, industrials were Grain Prices Winnipeg Groin WINNIPEG (CP) Export- er buying in rapeseed featured trade near the close of the Win- nipeg Grain Exchange today. Acitivity in other commodities was light and prices were mostly steady. The exporters were particu- larly active in Vancouver rape- seed but some interest also came from domestic crushers. {ledge offers were light. Flax drew a small commis- sion house operation with scale-down buying by export- ers. Oats and barley trade was fight and domestic while rye was inactive. Total futures trading volume Thursday was bushels flax, 2.846 million of rapeseed and of rye. Export loadings of Canadian wheat included bushels to Belgium, to Brazil, to France, to Ger- many, to India, to Japan, to Peru, and to Tunisia. Prices for class two wheat for export to countries outside IGA: 1 Nor 2 1.77V4; 3 4 1.67V8; 1 Durum 2 3 4 IGA prices: 1 Nor 2 3 4 1 Durum l.SOVs; 2 3 4 High Low Close Flax Oct 269% 261V4 261% Nov 257% 255% 257 Dec 241 239% 240 May 250 248V4 248% Rapeseed Vancouver Nov 250V4 245% 249Vi Jan 246% 244% Mar 242 238 242 May 239% 234% Rapeseed Thunder Bay Oct 247% Dec 228% Apr 237% 237% 237V4 Oats Oct 87% 87% Dec 87% 87% 87% May 87% 87% 87% Jly -.90 Barley Oct 127 126% 126% Dec 125% 126Vs May 127% 128% Jly 127% Rye Oct 104% Dec 107% lOSV's May 115% 114% Jly 116% down .36 to 168.95 and base met- als .29 to 99.25. Golds advanced .14 to 166.20 and western oils .76 to 191.75. Volume by 11 a.m. was shares, down from at the same time Thursday; Losses outnumbered gains 129 to 77 with 154 issues unchanged. Among losing stocks, Interna- tional Utilities was down to Simpson-Sears to Westcoast Transmission to Chrysler to Alcan to Falconbridge to Sherritt to Scur- ry-Rainbow Vi to and Northgate Vs to Hudson's Bay Oil and Gas climbed to Simpsons to Dofasco to Canada Southern Pete 20 cents to Siebens 10 cents to and United Oanso 10 cents to BANKS DOWN MONTREAL (CP) The Montreal stock market was mixed in light trading today. Utilities and banks declined while industrials and papers moved upward. Consolidated Textiles dropped to Fraser to International U t i 1 i t i e s to Hudson Bay Co. to CPR to .MacMUlan Bloedel to and Walker- Gooderham to B.C. Forest Products was up to Moore Corp. to and Du Pont to Alcan lost to Husky Oil U to and International Nickel V, to while Shell Canada advanced to Pa- cific Petroleum to Tex- aco Canada to and Im- perial Oil to On index, utilities fell .37 to 140.97 and banks .18 to .179.83, while industrials climbed .21 to 172.33, papers a fractional .01 to 88.07 and the composite index .06 to 167.60. Combined volume on the Montreal and Canadian stock .exchanges to 11 a.m. was shares traded; compared with shares at the same time Thursday. LATE RECOVERY NEW YORK (AP) The stock market gave a repeat per- formance of its last two sessions as prices slipped sharply in early trading today, then re- covered in fairly active tunover. At noon the Dow Jones aver- age of 30 industrial stocks was off 2.81 points to 774.23. Among Canadian shares, Dome was up at and Ca- nadian Pacific up at Massey was off at On the American Stock Ex- change, Scurry Rainbow Oil tacked on to Molybden- ite Canada was up at and Canadian Marconi up at Livestock Lethbridge livestock AFTERNOON SALE Calgary Livestock CALGARY (CP) On offer to 11 a.m., about head; mostly replacement cattle and stock calves. Trade was active. Slaughter cattle were scarce, selling at closing prices Thurs- day. No choice kinds offered. Good slaughter steers 26.50 to 26.25, medium 25.50 to 26.25. Good heifers 25.25 to 26, me- dium 24 to 25. Medium cows 20.25 to 21.25, canners and cut- ters 18 to 20. Replacement cattle were mostly yearling steers and hei- fers selling at steady prices. Stock calves offered were me- dium to good quality. Good feeder steers less than 750 pounds 31 to 33.50, 700 to 900 pounds 28.50 to 32.50, more than 900 pounds 27.50 to 23.60. Good feeder heifers less than 650 pounds 27.50 to 30.40, more than 650 pounds 26 to 27.50. Good stock steer calves less than 400 pounds 38 to 41.75, more than 400 pounds 35.50 to 38. Good stock heifer calves under 350 pounds 32 to 34.50, more than 350 pounds 30 to 32. No hogs were sold to 11 a.m. Million Suit Filed In Montana KALISPELX, Mont. (AP) Seven new damage suits seek- ing almost against the Anaconda Aluminum Co., and the Anaconda Wire and Cable Co., were filed here to bring the total amount of damages sought in 28 suits to more than The claimants in the latest suits said trees and other vege- tation had been damaged by fluoride and hydrocarbon emis- sions from the two Columbia Falls plant District Judge Robert Sykes of Kalispell, wiio will handle the cases, reportedly has some doubts that a district court can satisfactorily deal with some of the questions raised by the suits. The U.S. Supreme Court may have to decide such ques- tions as what constitutes a class action and liability, he said. Judge Sykes added that as far as he knew, the action suit of filed earlier is only the third of its kind filed on an environmental issue. Glass Council To Expand Its Litter Program TORONTO (CP) The Glass Container Council of Canada will expand its test program of purchasing no deposit bottles from consumers, council spokesman H. E. Dalton said Thursday.. "This is a significant step for- ward in our fight against lit- he said. Since July, the glass industry has offered S15 a ton for used bottles in Toronto, Hamilton and Wallaceburg, Ont. The program will be expanded to Montreal, Moncton, N.B., and Redcliff, Alta. Mr. Dalton said the return of more than bottles in the three Ontario centres "more than justifies" expansion. During the three-month test program in Ontario, companies that were members of the coun- cil opened bottle depots at their plants. Individuals and civic groups were paid cent for each bottle returned. The reclaimed bottles were crushed and recycled to make new glass containers. The council also announced it is examining the possibility of opening recycling centres in communities that have no glass container plants. Mr. Dalton said other promis- ing markets for salvaged glass are in building materials, insu- lating wool, acoustic tile and a road-surface supplement called glasplialt. NOTICE Due to lack of interest, the executive of the Lefhbridge 5-Pin Bowling Association have decided to stop operating. This wijl mean an end to par- ticipation in Western Canada Handicap and High School Championshipi. Until such lime that the bowling community show enough interest to warrant re-organizing, the Lethbridge Five Pin Association will cease to exist. Oct. 6, 1970. BOB COSTANZO (President) Beef Futures WINNIPEG (CP) Trading was light on the Winnipeg live beef futures market Thursday with contracts in March futures at 10 to. 15 points under the previous close. Volume of trade Wednesday involved two con- tracts. Open High Low Close Nov 28.85B Jan 29.05N Mar 29.30 29.35 29.30 29.35B Potato Futures WINNIPEG (CP) The Mar- itime potato market drew a light trade Thursday with May con- tracts sold at five points under previous close levels. Five con- tracts were sold on Wednesday. Open High Low Close Nov 2.25B Mar 2.55B Apr 2.73N May 3.20B MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Roadhouse and McCuaig) LAST BID OR SALE a.m. Quotes) a.m. Quotes) a.m. Quotes WESTERN OILS Hugh Russ P. 20.25 Or In Shares 3.12 Almlnex Husky oil Invest Or Asamsn U.50 Husky oil B p. 38.75 Banff 13.12'A Husky oil War 7.4S B.P. Oil Oas 5.3S In Prov Pipe Wt 13.00 Canada South 4.70 Intl Utilities p. 29.25 Cdn Ex Gas 5.15 Inter s and Cdn Home 6.50 Jefferson L. Cdn. Indus s 0 10.75 Cdn Long Isl. .75 Cdn Superior Joulel Kaiser Res. Karn Kotia Invest Mutual Mutual Ac F Mutual Or F ____ Mutual In 712iA Nat Res iilso N 13.48 14.73 5.01 5.50 4.90 5.3! 4.32 4.75 4.77 5.25 4.95 7.40 4.82 5.30 3.77 4.14 is B UO Central Del Rio 12.12V} L Ont Port Cem 1.8C Charter...... 6.25 10.50 1.31 29.25 2.30 l.W 1.90 7.90 .89 cmettan Dynamic Great Plains Milt City N Continental N. Cdn. Oil Numac Permo Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Spooner Wist Decalta CALOARY Acroll Anaconda Peta Barons OH N. Continental Plains Pete MISCELLANEOUS Atco Indus 11.00 Aquataine 25.00 Btstl Nfld Corp Cdn Brew A P. JM714 Cdn H Carbons 16.00 Cdn Pac Inv. P. CPR Pfd...... Cygnus A Cygnus B Cum Prop Gt Cdn Oil Sand Home Oil A Home Oil B .J5 6.30 29.00 14.00 10.25 Mentor Pacllic Pete Rank Organ Selkirk Hold Shell Inv...... Shell In. Pfd. Shell Inv Wt Sicks Rainier West Cdn Seed West Warner White, Yukon Madison Rexdale PIPELINE STOCKS Alta Gas Tr L A 46.50 Alta Gas .Tr L Pfd 72.00 Alta Gas (Nat) 23.50 Cdn W Nat Gas 15.00 Inland Nat Gas 10.75 .OB'A N and c N and C B .02V4 Tr Cin Pipe Royfund United Ac Universal Ssv 4.98 5.13 4.30 4.73 7.58 VANCOUVER .21 13.50 22.00 1.65 4.15 1.34 24.00 B.75 4.90 5.75 12.50 4.00 51.25 51.75 33.67'A Atlas Explor 15.12'A Beth Copper 3.75 Bornite 2.70 Block Bros Brenda B.C. sugar Capt Inter Churchm Copper Coronation Cr Crestbrook F I Croyden Dolly Varden Dynasty 6.50 Endako 15.00 14.37'A Fort Reliance Pfd !0.37Vi Giant Mascot 33.00 Granisle 17.50 .30 .10 3.55 10.25 15.25 3.65 !.30 1.10 7.00 .35 Home, Pitfield 2.05 Hul Bay Co 14.25 Hud Bay Oil 42.25 Hud Bay Oil P. 55.00 Tr Cdn P Pfd 40.50 Key Indust Tr Cdn P Pfd A 62.25 Hy's Tr Cdn P War 11.50 Interior Brew Tr Prairie P 13.00 Jericho Westcoast Tr 22.12'A Kamloops Copper Western Pacific 4.90 Lornex MUTUAL FUNDS Lylton Minerals AGF Special 2.26 Madrona All Cdn Com 6.71 7.33 New Cronln All Cdn Divid 7.76 8.49 New Imp Mines All Cdn Vent 3.36 3.67 Okanagan Hellcop Amr Gr F 4.60 5.05 Primer Cdn Gr 5.B1 Pyramid Cdn Invest F 4.33 4.74 Silver Standard Col Mutual 5.4B 6.02 T C Explor Cmnw Inler 11.48 12.56 Trolan Corp Invest 5.12 5.59 Western Mines Corp In st F 4.61 5.04 Westcoast Res Dreyfus F U.S. 10.75 11.78 western Explor Gr Equity 5.77 6.34 Utlca .50 3.50 13.00 .41 2.80 4.50 .OB'A .11 7.50 2.7S .37 .09 2.10 3.15 .51 .79 1.45 .37 .35 a BO .20 .27 .75 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) INDUSTRIALS North, Cent Abltlbl...... 7.42% Pembins Pp Alcan........ 22.75 Power Corp Aigoma Steel Price Co Afco ind.....11.12V2 Rothmans 7.25 St Law Corp 43.75 Shell CDA 14.87'A Simpson's 61.50 Simpsons Sers Atian Sugar Bell Tel..... Brazil Trac B.C. Tel..... Burns B.C. Forest B.C. Sugar CAE Ind..... Cdn Brew Chemcell Col Cellulose Cal Power Cordn Credit CWN Gas Cdn Indust Canada 55... Cdn Marconi Cdn Vickers Chrysler CPR Cons Both Cons Gas Dlst Sea..... Dom Bridge. Domtar Dom Textile Dom Stores Dome Pete Fam Play Gt Cdn Oil Gen Motors Gt Lakes Pap Gulf Oil Cda Hawker Sid Huron, Erie Hiram Walk Imperial Oil Imperial Tob Int Nickel Int Pipe..... Inv Gp A Int Utilities Indust Accept Laurentide Kelly Doug A Loeb Loblaw A Metro Stores Massey Ferg McMillan Bloe Moore Corp Molsons A Molsons B a.m. QUCJTBS) id. 50 22.75 8.37'A 19.00 33.75 17.50 22.00 9.00 Steel of Can 24.12V4 Selkirk A 15.50 Texaco...... 4.70 Traders Gp A 7.50 Trans Mtn Pp 4.55 Trans Can Pp Union Gas 25.25 Union Oil 1.15 Versatile Mfg Westeel..... 9.25 Union Car 24.50 Weston's B 3.35 Woodward's A West Cdn Sd Zenith Elec 44.00 BANKS 17.B7V4 Can Imperial 10.25 Montreal 18.00 Nova Scotia 50.00 Royal...... 16.25 Tor-Dom..... 13.87% MINES Acme..... Advocate Asb. 71.50 10.00 4.15 75.00 IB. 00 18.50 2.10 17.50 Akaiit Area Mines Belcher Iron Black Bay Broulan....... Bethlehem Brunswick Canada Tung. 19.00 Casslar...... 14.37V2 Central Pat. 44.75 chimo....... Conwest...... Cons. Rambler 32.75 Coin Lake 1S.50 Cochenour 5.00 CraigmonT Dickenson Mines 4.90 Denlson Mines 5.00 Deer Horn 25.00 D'Eldona..... Dome Mines Donalda Discovery Mines East Malarttc East Sullivan 10.75 25.00 32.50 13.75 14.00 23.75 10.50 10.00 18.75 33.00 14.75 41.00 3.65 9.50 23.00 16.00 2.65 1.40 20.75 1S.B7W 19.7S 23.00 20.00 .03 2.05 .53 2.06 .40 -07V2 1.60 lfi.50 -1.40 2.10 22.00 3.00 1.23 13.25 .84 1.17 60.00 1.25 1.25 5.60 a.m. Ouoles) Falconbridge 147.75 Frobex........26! First Maritlmes Giant Y..K Gunnar Granduc Headway R.L. Hollinser Hud. Bay M-S Hydra Ex..... Highland Bell Iron Bay..... ISO.......... Jollet Quebec Kerr Addison Key Anacon Labrador Lake Shore Leitch Langis Silver Macassa..... Madsen R.L. Malartlc G.F. Martin McNeely Maybrun..... Maclntyre Meta........ Midrim....... Intern Mogul New Alhona New Calumet New Imperial Noranda Northgate .95 S.80 1.35 8.25 11.50 36.00 2.91 3.25 1.85 .23 11.75 .30 33.50 3.25 1.4B .07 1.25 .85 .71 12.00 Opem osisko....... Patino....... Pine Point Placer Dev. P.C. Exp...... Quebec Man Rayrock Radlore...... Rio Algom Roman Corp. Silverfields Sherritt Gordon Silver Miller Steep Rock Siscoe........ Tek Corp...... Texmont...... Upper Canada Western Mines Wright Har. Willroy....... Windfall..... Yellowknife Br. Zenmac...... .27 2.10 28.50 11.50 12.00 .30% 31.00 30.50 34.25 .76 .23 1.30 .32 15.25 5.60 2.35 19.00 .08 2.55 2.19 7.05 .47 l.Sfi 3.80 NEW YORK STOCKS Supplied by Richardson. Securities of Canada Amr T and T Montgomery Ward 26.75 20 Golds 16S.11 up .05 Anaconda Slffl'A Sears 49.25 10 Base Met off .3d Bth Steal 21.75 Std Oil of N.J. ifl.75 15 W Oils 191.49 up .50 Chrysler 24.75 Texas Sulf Volume Comsat J2.00 Texas Co 32.00 NEW YORK AVERA6ES Dupont 116.12'A Woolworth 34.75 30 Indust 771.56 off 5.48 General Motors Westinghouse Elec 64.25 20 Rails 155.51 off .16 Gulf 29.50 U.S. Steel 31.25 15 Utilities 106.85 Up .13 Int Harvester 25.00 TORONTO AVERAGES 65 Stocks 247.91 off 1.02 Kenn Copper 41.50 50 Indust 169.12 off .19 Volume Hog Prices EDMONTON (CP) Prices to 11 a.m. supplied by the Al- berta Hog Producers Market- ing Board: Edmonton: No sales. Aver- age Thursday 24.95. Red Deer: No sales. Average Thursday 25.22. Calgary: No sales. Average Thursday 25.03. Lethbridge: Quoted 24.30, selling 24.30. Thursday average 24.69. Lloydminster: No sales. Av- erage Thursday 23.86. Total hogs sold to 11 a.m. 46. Total hogs sold Thursday Provincial average 24.95. Sows at all points 16.01. Your Taxes tridoy, October 9, 1970 THE IFTHBRIDOI HERAID By L H. Asper Plea For Moderation By I. H. ASPER This is a time for silence and sober thought on the subject of tax reform. The Senate and Commons committees studying the government's White Paper on tax reform have both re- ported and Canada will be best served if politicians, journal- ists, lawyers, economists and all those concerned with com- menting on the tax structure refrain from expounding their instant wisdom in evaluating these reports. Ws are now entering round five in the tax reform process. Observers should recall that it all began with the Carter Royal Commission that started hear- ings in 1962 and reported in 1967. That event exploded most conventional concepts of tax structuring and was followed by a protracted and vigorous debate amongst tax watchers. In Hie third round the govern- ment assembled and stated the national concensus in its White Paper last November 7th. The year old White Paper produced one of the most pas- sionate and, at times, bitter public debates since the build- ing of the Confederation rail- roads. While tempers w.ere cooling, the present .round be- gan with separate Senate and Commons committees hearing briefs and reaching then- OWE conclusions as to the wisdom of the g o v e r ri ment's proposals. This session has now ended with the tabling of their re- spective reports suggesting which sections of the plan are acceptable, and which should be modified or jettisoned. The upcoming round will be- gin with further public and par- liamentary debate and end with a statement of intent from the government. Because this is the last bout in which gov- ernment thinking may be in flueneed prior to final commit ment, it is the most important The situation calls for intel- ligence, not rea- son, not rancor. Much is ai stake: the White Paper pro- cess, the mechanics of partici- patory democracy, the Parlia. m e n t a r y committee system the status of the Senate itself as a separate non-etected body not to mention the careers of several political .officials. The White Paper debate was marred and its effectiveness severely impaired by the emo- tionalism and the personal na tare of the attacks and counter attacks of the participants. The same danger exists today. The same nationally divisive resul will flow if the tax protagon ists launch their hastily consid ered missiles in attack on or fire skyrockets in favor of the Senate or Commons reports because they are so different Quick or over reaction woulefore the ink in the report is dry. So much for reasoned con- sideration. Nor does it help when the government-owned CBC, when that the Senate had slammed the government pro- wsals, thoughtfully adds, with- )ut amplification, that the Sen- ate committee members hold an average of five company di- rectorships apiece. This is the stuff of politics, not objective comment. If the name of the game is slander by innuendo then we are lost. Whatever one thinks of the Senate or Commons re- port, he must begin on Hie premise that men of goodwill jave rendered their considered judgment after spending months hearing briefs and ap- plying their minds to a very thorny problem. It serves no useful public purpose to dismiss the Senate report by labelling it Uie tool of big business, nor to attack the Commons committee re- port as being the product of government pawns. The time for inflammatory language is past; the tax debate requires conciliation, not combustion. We are faced with two re- Magistrate Throws Out Charge MEDICINE HAT (CP) A charge of1 impaired driving against a local businessman was dismissed in court because the prosecution could not prove that the liquid in the breath analysis machine was of cor- rect composition. Magistrate E. W. N. Mac- Donald said in dismissing the charges it was obvious the per- son administering the breath analysis test could not tell the difference between the ap- proved liquid and lemonade. Wilfred Schuerman w a s charged with driving on July while having a blood alcoho reading in excess of .08. The accused's lawyer said a certificate stating the blood al- cohol reading could not be in- troduced as evidence until al" points given on it were proven. One of the items on the cer- tificate signed by a police cor- poral said the solution in the machine was of correct compo- sition. The corporal who administer- ed the test said in court the liquid used in the machine is mailed to Medicine Hat from RCMP offices in Edmonton in glass ampoules. He testified he did not know what was in the ampoules. ports. They differ widely. Com- mentators should pause to think before they make public their judgments. They might remember that often a positive reaction from one sector au- tomatically produces a nega- tive reaction in another. That is; f'.ere is the possibility that some will approve the commit- recommendations just be- cause someone else, whom they don't like, objects. This kind of antipathy too often dogged the White Paper debate. At this time, all Canadian business and labor leaders, fi- nancial writers, lawyers, ac- countants, economists and tax authorities owe it to the Cana- dian public to pause and think and then provide the leader- ship in evaluating the two com- mittee reports. That leadership must be provided on a moder- ate, objective basis. During this process it would be helpful if the government remained si- lent. If public spokesmen will take a week or two to cooly recon- sider their earlier attitudes, read and re-read the two re- ports, and take several cold showers before publicly com- mitting themselves irretriev- ably to inflexible positions on the current proposals, then, and perhaps only then, will Can- ada be offered the responsible and enlightened final debate which will lead to a better tax system next year. (Mr. Asper is a Winnipeg lawyer) CJLH-Television Appointment JOHN (Jock) MULGREW The appointment of John (Jock) Mulgrew as Retail Soles Account Executive is announced by K, M. Wolosyn, General Sales Man- ager, CJLH-Television, Lethbridge. Widely known and respect- ed Ihroughout Southern Alberta for his knowledge in advertising through his former capacity as Advertising Manager of the pop- ular bi-monthly Ad-Viser, pub- lished by Southern Printing, Jock looks forward to offering his advertising know-how and CJLH- TV's facilities and assistance to all his new and former accounts. 4lh AVENUE 6lh STREET, STIEET t 3rd AVENUE, lETHBRIDGE, AL8ERTA Requires AUTOMOBILE SALESMEN An energetic Mercury dealership requires automobile salesmen immediately. Usual company benefits which include company demo, heallh plan and generous commission plan. Apply to G. R. RICHARDSON SALES MANAGER PH. 327-5763 Canadian Club. At home around the world. BOTTLED IN BOND ny, orea, eanon, ya, aa, exco, orocco, Nepa, eterlands, New Guinea, New Zealand, Nigeria Norway Pakistan Panama, Peru, Phi ippines, Poland PorluSal, Puerto Rico, Sieira Lcono, Solomon Islands, South Africa, Spain, Si-dan, Sweden, Switzerland '311'8 Un'5iat kC''U ;