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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 11, 1974, Lethbridge, Alberta Friday, October UETHMIDOE HBRALD-21 Life insurance sales rise steady TORONTO (CP) Canadians seem to value their lives more every year. The amount of life in- surance owned by Canadians continued to rise during 1973, says the latest' information published Thursday by the Canadian Life Insurance Association. Relative to national income, Canadians own more life in- surance than residents of any other country. During was an Credit bank operations suspended GENEVA (Reuter) The Swiss-based International Credit Bank, which announced Wednesday it was suspending its operations pending a legal decision on its future, has ap? plied to Geneva's civil court for a temporary freeze on pay- ments, a bank spokesman said Thursday night. The spokesman said he ex- pects to give a ruling on the bank's future within 10 days to two weeks. "We hope the decision will be made he told Reuters news agency. The bank, which has been at the centre of a financial con- troversy involving the Israeli government and French banker Baron Edmond de Rothschild, said Wednesday it had been forced to take emergency action because false press reports had led customers.to make consid- erable withdrawals. Banking sources here said the Geneva court would probably name an inspector to examine, the banks "accounts and decide on the payment of urgent items, such as staff salaries, Rosenbaum, who has large investments in Israel, was not available for comment. average of of life insurance owned by every man, woman and child in Canada compared with in 1972. By the end of 1973 the aver- age amount of life insurance owned by each Canadian policy-holder was com- pared with in 1972, and every household had about worth of insurance compared with in The figures are contained in Canadian Life Insurance Facts 1974, issued annually by the trade association representing Canadian life in- surance companies. Canadians owned billion of life insurance in 11973, up billion from the previous year. On a worldwide basis Canadians rank third in life insurance ownership, behind the United States and Japan respectively. Group insurance ownership is increasing the most, com- prising 51.7 per cent of the total. HE t38 h t: t 7 Oil pipeline interest renewed OTTAWA (CP) Renewed government discussions about a Mackenzie Valley oil pipeline is drawing interest from a company set up five years ago to study such a pro-' ject. E. C. Kurd, president of the now-dormant Mackenzie Valley Pipe Line Research Ltd., said Thursday he plans to check with federal officials on whether there is more to the issue than just talk. "I don't want to get too en- couraged Mr. Hurd said, in a telephone interview from his Vancouver office. "But it makes interesting reading." He was referring to reports that Canadian and" United States government officials have held informal talks on _ Che possibility of such a line to carry Alaskan and Mackenzie. Delta oil to markets in Canada and the United States. Mackenzie Valley Research, a consortium of 16 companies, reported last year that such a line would be technically feasible and could be constructed without irreparable damage to the en- vironment. Merchant Bank may be formed VANCOUVER (CP) The British Columbia government add the B.C. Central Credit Union have been discussing jointly sponsoring a Merchant Bank to offer low interest roans, says George May, general manager of the credit union. Mr. May said today that in view of the federal government's intention to change the Bank Act to permit provincial governments to own up to 25 per cent of the shares of a bank, the govern- ment and B.C. Central will probably meet soon to discuss the specifics of setting up a Merchant Bank. Mr. May's statements follow comments Monday by Premier Dave Barrett that chartered banks charge huge interest rates'on loans', and reap-usurious profits. The premier, on a two-week public relations tour of the province, added that it was time the banks had some competition. A Merchant Bank would not accept deposits from the public, but would raise money through the money markets as well as taking deposits from .government departments and government corporations, Mr. May said. DOROTHY BECKEL for PUBLIC SCHOOL TRUSTEE THE FINEST RETIREMENT Ml COMMUNITY MM 8XC. The Herald- Drop follows four days of sharp gains Business Stocks Miscellaneous Vancouver, Calgary, Montreal MIDLAND DOHEBTY LUgrtED- WESTERN OILS AND West Air PeBen 4.00 Afton Mines Albany SO Inc Royal 20.00 Alta East Gas 4.05 Asamera Ashland BP Canada Brenda Mines Cda V4 4.25 A Pfd Whitepass Yukon PIPELINE 6.25 Cdn Export Gas Cdn Homestead Cdn Ind Gas Cdn Long Island Cdn Superior Chieflan 3.10 4.60 .15 30.50 5.00 Gas A Alta Gas Pfd Alta Nat Gas -Gaz Metro Gaz Metro A Pfd Inland Nat 60.00 16.50 5.37V4 48.00 1025 Dome Dynasty Nu Ft C B Pfd Pac Gas 8.25 Giant Mascot Gibraltar Pipe Tr-Cda A 51.25 Granisle Grt Cdn B Pfd Tr-Cda Pipe .85 Lochiel Explor Lytton Trans West Trans 1.59 North Cdn Numac t PanCdn Pan Vi Palom? Place Ranger Oil Scurry Norsemines Cima .41 Seibens Totai Ulster United West Vs West Acres BC Sugar C Block Canbra Infl Cdn Pac A CdrrPac Cdn Carting A All Cdn Carting B Cdn Com Growth Crest Crows Invest Falcon F M Intl Home Oil Home Oil B Invest -Stock Hud Bay Fund Hudson Bay In Hud Oil A Hugh Russell C Growth Husky Husky Oil B Husky Oil E Inter Pipe Inter S Kaiser Kaiser Res Loblaw C Pfd Magnasonics Pacific Accum Universal 6.44 3 "-SJ- Toronto mines, .industrials (Supplied by Richardson Secwiffes oTCaBatt) Kaiser earnings improve VANCOUVER Kaiser Resources Ltd. Thursday reported consolidated net earnings of or 28 cents a share on sales of for the third quarter of 1974. The figures compared to a profit of or two cents a share on sales of in the same period last year. The 1974 figures include an extraordinary income tax credit of or 15 cents a share from tax losses carried forward. Edgar F. Kaiser Jr. said in a news release higher coking prices and increased shipments were die primary reasons for improved earnings. MINES v Acme- Advocate Asb. Akaitcho Bralorne Broulan Bethlehem Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat Chimo Conwest Cons. Rambler Coin Lake Cochenour Craigmonl Dickenson Mines Denison Mines D'Bdona Dome Mines Discovery Mines East Malartic East Sullivan Fatconbridge Frobex First MaritJmes Giant Y.K. Granduc HotlingerA Hudson Bay A Hydra Ex. Iron Bay Iso Joliet Quebec' Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen RL. Malartic G.F. Martin McNeety Madntyre Meta Midnm Intern Mogul NuWest Homes New Athona New Calumet Noranda Northgate Nortex Pine Point Placer Dev. Pat Exp. Quebec Man Rayrock Radiore Rio Algom Roman Corp. Sherritt Gordon Steep Rock Sumingdate Con> A Texmom United Canso Western Mines WH Copper Mines Wright Harateaves WjBroy_ WfiOdUR Yetowknae Beer Ztenmac MDUSTHALS AMM Alcan AlgomaSttM Alcolnd Agra Ind BCTen Forest Sugar Valley Ind Ind Foods Cellulose O'Keefe Credit Gas Pfd Ind Maroni Vickers Bathurst Gas "Seagrams Bridge Textile Stores Pete Mobile Cdn Oil Motors Lakes Paper Oil Sid Walker A Erie Oil A A Nickel Pipe A Ltd 27 Douglas A A .15 Ferg McMHlBtoed Corp A Cent Corp CDA Seats Can A A 2.06 Mtn Pipe Trans Can Pips Gas 220 Siscoc Mfg A imperial Scotia Oom Prices on TSE decline fractionally TORONTO to Maclaren Power and Paper class "A" 'rose 1 to Bell Canada V Wheat board domestic feed grain prices Thursday: 3 CW red spring wheat 4.06; No. 1 feed oats No. 1 feed barley LONDON (AP) Thursday's clos- ing metals hi pound sterling per metric ton; silver in pisiicff per, troy ounce. Copper: Spot 690421; futures 638439 Tin: Spot future 3400 lead: Spot 89-2293: futures 222.5- 223 Zinc: Spot 355456; futures 355-356 Silver: Spot 3 months 217.5-218. CHAROLAIS BREEDING STOCK SALE TUES., OCT. p.m. Killam Auction Market, Ktllain, Alberta Approximately 75 Head oi Pintail nl towi Htjihrs ut Reference sires Lazy Jr. Cadet -35A Uncle Nat ll Boulot Mr. Ayran 8 Artiste Y Gordo Jack. Sal- vador -La Don First Cyrano Sir Charrouse A Bon- ney Miarizona Aira Mitee Zed Pine 75C Sir- pany 244 Cabotin Buffalo Belphlgor Fraser Heights Kays-- Alto Britchfield Cur Roxana's Canton Andy. CATALOGUES AVAILABLE :00 KHlM AirtiN CHAROLAIS FEEDER SALE with the Kings CHIANINA DAY RUHR filBW Wed., Oct 23rd p.m. r Top Quality SELECTED SBC- sraa n ATTI c lull ILC 5% Embryo Transplants 44 Blood Bred Chianina Heifers serviced to Barbee Joe from Lawrence Johnson, WetasKawin, Alberta. 96 Blood Bred and Open Heifers. Reference sires Fedelio-Fusceilo-Toronado-Fatetto-Farro- Fonto-Frigglo-Ferrero-Fadlno-FagJar'o-Rnipo. These Heifers carry the Chianina color. CAMROSE A KIUAM AUCTIONMAIHCETS ilMCMmMirft. ;