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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 20, 1970, Lethbridge, Alberta -Tuwdoy, OrteUr JO, WO THI IITHMIDGI HHAIO 13 Market Continues Downward Trend TORONTO (CP) Prices er- oded moderately in light mid- morning trading today as the Toronto stock market entered Its fifth straight declining ses- lion. On Index, industrials were down .61 to 166.47, golds .49 to 179.91, base metals .38 to 95.61 wd western oils .55 to 179.91. Volume by 11 a.m. was down from at the tame time Monday. Losses outnumbered gains 144 to 58 with 158 issues unchanged. Weakest sectors were in- dustrial mines, beverages. pipelines and Twelve of the exchange's 17 sub-indexes were lower. Among losing issues, Dome Pete was down Vt to Fal- conbridge 2 to Pacific Pete to Inco to International utilities V4 to and Mattagami to Sigma fell 35 cents to S3.60, Bethlehem to Opem- fska Vs to and Canadian Export Gas 15 cents to Cominco rose to Home A V4 to Bell to Ranger to Hous- ton Oil 20 cents to and Western Decalta 15 cents to PRICES MIXED MONTREAL (CP) Prices were mixed in light trading in today's morning session on the Montreal stock market. Highlighting 1 o s i n g issues, Credit Fonder slumped to Shell Canada to Melchers to Pacific Pe- troleum to Imperial Tobacco to and Bom- bardier Vi to Canada Steamship Lines clnned to Brascan to Royal Trust to Cominco to and Nor- aoda to Moore Corp, Bond Prices Seesaw was up 'A to and Inter- Provincial PipeLines Vi to On Index, industrials were off 62 to 169.66, papers .11 to 87.31 and the composite index -.32 to 164.77. Utilities rose .57 to 138.56 and banks a fractional .01 to 175.18. Combined volume on. the Montreal and Canadian Stock Exchanges to 11 a.m. was shares traded, compared with at Ure same time Monday., PRICES UP NEW YORK (AP) Stock market prices climbed modest- ly early this afternoon in mcd- erate trading, after recovering from a morning dip. The noon Dow Jones average of 30 industrials was up .99 at 758.4. Earlier it had been off nearly 2 points. Mclntyre Porcupine was down 1% to among Canadians. Distillers Seagrams fell to and Genstar to Dome rose to On the American Stock Ex- change, Brascan Ltd., was up at and Jupiter Corp. 'at Scurry Rainbow Oil was off at Clean Control Program On Oil Spills Recommended Kaiser Faces Problem [n Tass Coal Finances EDMONTON (CP) Oil pipeline companies were toW ay the government to- day they should consider es- tablishing a program that would result in prompt action on clean-up and control of oil spills. The recommendation was contained in a government re- port on an oil spill into the Athabasca River June 6 from a pipeline, linking the Great Ca- nadian Oil Sands Ltd. plant at Fort McMurray with Edmon- ton, 266 miles to the south. Released by Health Minister James Henderson, the report stressed the .need for early de- tection of oil spills and pipe- line development that would eliminate them. The break in the pipeline was three feet long and four inches wide and it occurred 1% miles south of the GCOS' plant at a point about a half mile from the -Athabasca River. The break occurred where the line changes direction and the report, said there was a a weak point. "The failure Potato Futures WINNIPEG (CP) The Maritime potato futures market was quiet Monday with a few contracts in May. Volume of trade Friday rep- resented four contacts. Open High Low Close Nov 2.25N Mar 2.55B Apr 2.65B May 3.09 3.03B MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Roadhause and McCuaig) LAST BID OR SALS a.m. Quotes) a.m. Quotes} i.m. auotn) cum Prop Gt Cdn Oil Sd TORONTO (CP) Price, of Canadian bonds seesawed last week amid uncertainly over how the already-glutted market would take an abundance of new corporate issues. Traders said prices took a beating the first three days of the week but recovered some of the losses Thursday and Friday when there was evidence that new issues were being fairly well received by investors. On the week, short-term Can- ada bonds lost about five cents, medium-term issues about one- eighth of a point and long-term Issues between three-eighths and one-half point. Trading activity was moder- ate throughout the week. Steel Co. of Canada Ltd. put a new issue on the market carrying a 9y4-pcr-cent j coupon and British Columbia Forest Products Ltd. announced a new offering of sinking fund deben- tures. Financial analysts said that more corporate financing to a total of million, is expected this month. WESTERN OILS Almlnex Asamera Banff B. P. OK Can South Cdn Exp Gas Cdn Home Cdn Ind Gas Cdn Long Is Cdn Supar Cent Del Rio Charter Chieftan Dynam Peta Gt Plains Mill Clly New'Com1 Numoc permo Petrol Pinnacle Place Gai Ponder Ranger Scurry Rain Spooner West Decal 1.36 1.75 30.00 3.7S 2.60 17.50 MISCELLANEOUS INDUSTRIALS Atco Indus 10.75 Aquntatne Brit Nfld Cdn Brew Cdn Brew B Cdn Hyd Car Cdn Pac Inv CPR Pfd Cygnus A Cygnus B Kaiser Res S.a Kam Kotla 14.25 Lake Ont Pt 11.67'A Mentor 4.55 Newconex 4.00 Pac Pete 4.75 Rank Organ 7.05 Shell Inv 10.37'A shell Inv Pfd .70 StcKs Rain 34.00 West Cdn Sd 11.6M White and Yuk. 6.25 CALGARY 10.25 AcroII 1.25 1.25 Anac Pete.....09 36.00 Barons Oil.....06 1.90 North Cent.....03 1.00 Plalrts Pete .38 7.45 west Warner .41 .85 Madison.......30 1.27 Rexdale.......13 .87 PIPELINE STOCKS 1.24 Alta Gas Tr L A 45.25 .64 Alta Gas 23.00 14.50 Cdn W Nat Gas 14.75 22.00 Inland Nat Gas 10.50 1.99 N and C 13.50 5.6S 33.50 15.00 23.50 (.75 4.50 5.00 15.50 4.00 Home Oil A Horr.e and Pit Hud Bay Co Hud Bay Oil Hud Bay Oil Pfd 53.25 105 Vent 3.28 S.5B Mutual Ac f 4.71 5.1S Mutual Gr F 4.13 4.4 Mutual In 4.61 i.07 Nat Res 6.78 7.41 N W Fin 3.57 3.92 1587VJ N W Gr 4.33 4.76 32'.50 Principal Gr 3.61 3.97 Prov Mutual 6.14 4.72 Regent F 7.78 8.50 Royfund 4.87 5.02 United Ac 4.23 4.65 Universal Sav t.u 7.30 VANCOUVER Arctic Mining .21 Atlas Explor .62 Beth Copper 16.25 Bornlte Ridg. .15 Black Bros 3.45 Brenda 9.25 B.C. Sugar 15.50 B.C. Sugar Pfd 15.25 Capt Inter 3.25 Churchill Copper 2.00 Coronation Credit 1.15 crestbrook F Ind S.K.V .37 .50 ly 6.10 Giant Mascot 3.40 Granlsle 12.37V Key Indust Growers B Hy's Interior Brew Jericho Kamloops Coper wrinkle in the pipe that caused was investi- gated in detail and determined o be construction te report said. "There was no indication that this was any- Ivhig more than an isolated and single construction short- coming, however It is recom- ended that consideration be ven to have this aspect re- wwed and assessed." The company, which extracts synthetic" crude oil from the thabasca oil sands, estimated barrels of oil were lost. "Appreciable quantities did each the river and were vis- Jble down to Lake Athabasca, ome 150 miles the report said. "The oil also as visible in certain sections f the west end of the lake for sproximately six days." Two days after the spffl, ;the nl downriver about 0 miles, primarily on the west sank of the river, and in the next week it spread to the Athabasca delta and the lake. y June 20, most evidence of I had disappeared. :'The oil was noticeable mainly as an iridescent sheen, Darticularly visible from air- the report said. "The adverse effects on fish and rtldlife and other users of the river were not extensive. "Lasting or long-term effects will be checked further. How- ever, at this time there is no indication that there is any continuing type of adverse ef- ect." The government recommend- ed the oil industry pool its re- sources to fight the effects of pills and said.the firms should consider stockpiling materials various places in case of an mergency. Also recommended were flow meters at each.end of a pipe- ine that would set off an alarm 'hen pressure drops. Lastly, it said any firm re- sponsible for an oil spill should lay for equipment and male- necessary to control the spUI. N and C B Ffd 28.62'A "oydin Gaz Metro 5.00 Dolly Varden Gai Metro Pfd A el .00 Dynast' Tr Cdn P 31.50 Tr Cdn P Pld 39.75 Tr Cdn P Pfd A 58.25 Tr Cdn P War 11.50 Westcoast Tr 21.25 Western Pacific 4.85 MUTUAL FUNDS AGF Special 2.18 Cdn Com 6.59 7.20 Lornex All Cdn Divld 7.62 8.33 Lytton Minerals Ail Cdn Vent 3.31 3.62 Madrona Amr Gr 19.6114 Cdn Gr 1 95 Cdn Invest Co! Mutual cmnw Inter cmnw Lev Corp Invest 4.47 4.91 New Cronln 5.09 5.59 New Imp Mines 4 20 4 61 Okanagan Helicop 5.33 5.85 Primer 11.43 12.53 Pyramid........ 293 3.21 Silver Stand 4.96 5.42 T C Explor .46 3.00 S.85 ,4.75 .16 6.75 2.70 .35 .08 2.00 3.10 .23 .48 1.40 .38 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE fc.m. Quotes) i.m. Ouoltt) a.m. Quotes! INDUSTRIAL! North, Cent 7.37V4 Pemblm Egg Prices EDMONTON (CP) Week- ly egg and poultry report is- sued by the Alberta Depart- ment ot Agriculture: To producers A large 39; A medium 29; A small 14; B 17; C 5; cracks 10. To retailers A large 50 to 51; A medium 40 to 41; A small 25 to 26; B 31 to 32; C 20 to 21: c r a c k s 23 to 24. To consumers (in A large 55 to 57; A medium 44 to 47; A small 27 to 32. Poultry To producers live No. 1 chicken Broilers, 19V4. Fowl Under 4, 5. Tur- key Under 12, 12 to 18, over 18, 24. Live No. 2 chicken Broilers, 17. Tur- key Under 12, 12 to 18, over 18, 22. ART DIETRICH DENTURE CLINIC Certified Dental Mechanic Metropolitan Blda. 328-4095 Ablllbl Alcan Algoma Steel Atco ind Allan sugar Brazil Tree B.C. Tel..... Burns....... B.C. Forest B.C. Sugar CAE Ind Cdn Brew Chemcell Col Cellulosa Cal Power Coron Credit CWN Gas Canada S S Cdn Marconi Cdn VIckeri Chrysler CPR........ Cominco..... Cons Bath Cons Gas Dlst Sea Dom Bridge Domlar Dom Textile Dpm Sores Dome Pete Fam Play Fd of Amer Gt Cdn Oil Gen Motors Gt Lakes Pap Gulf Oil Cda Hawker Sid Huron, Erie Hiram Walk Imperial OH Imperial Tob Int Nicks! Int Pipe..... Inv Gp A Int Utilities Indust Accept Laurentlde Kelly Doug A Locb....... Loblaw A Metro Stores Massey Forg McMillan Bloa Moore Corp Molsons A Molsons B 4 65 7 50 5475 Vas 13.00 22.50 15.50 2.55 1.45 20.25 Pp 21.75 Power Corp 12.B7VJ Price Co 1050 Rothmans 7.00 Shell COA 4375 Simpson's 13.67'A Simp Sears 75 Steel of Can Selkirk A urt Texaco..... Traders Gp A Trans Mtn Pp Trans Can Pp Union Gas Union Oil Versatile Mfg Westeel..... Union Car 25'62'A Western's Woodward's A West Cdn Sd 9dso Zenith Eelec 6350 BANKS 2025 Can lmPer'a' 9 75 Montreal JfTSffiSi 12 50 Acme lo'l2VJ Advocate' Asb. ti'75 Akaitcho Vso Area Mines 50oo Belcher Iron 400 Black Bay 71.75 Bralorne..... 17.50 Broulan...... ls'37'A Bethlehem 2 oo Canada Tung. 16.87'A Casslar...... 75 Central Pat. 18.50 Chlmo 14 35 Conwest...... 4575 Cons Rambler 2J.12Va Coin Lafca Cochenour 31.87Vi Cralgmont 15 00 Dlckenson, 5.25 Denlson Mines 2.50 Deer Horn 13.63'A Ftrtt 22.50 Giant Y.K..... 5.75 Gunnar....... 8.12'A Granduc 1200 Headway R.L. 35.75 Hollinger 16.87'A Hud. Bay M-S 21.75 Hydra Ex..... 23.00 Highland Bell 10.50 Iron Bay..... 26.50 Iso.......... 8.SO Jollet Quebec 18.00 Kerr Addlson 31.50 Key Anacon 14.87'A Labrador..... 39.00 Lake Shore 3.25 Leltch....... 9.75 Langis Sliver Macassa..... Langis Sliver Macassa..... Madsen R.L. Malartlc G.F. Martin McNeely Maybrun 15.12'A Maclntyre 1V.37'A Mela....... Intern Mogul New Alhona New Calumet New Imperial Noranda Nortrigate Opemiska Oslsko....... Petlno....... Pine Point Placer .Dev. P.C. Exp...... Quebec Man Rayrock Radiore...... Rio Algom Roman Corp. SHverflGlds .58 Sherrllt Gordon Sliver Miller 1.08 Steep Rock 23.50 Slscoe........ .07'A Tck Corp. D'Eldona 1.08 Texmont 5.75 Dome Mines Upper Canada 35.50 Donalda......23 Western Mines 9.B7VJ Discovery Mlno 1.20 Wright Har. 24.62Vi East Malartic 1.40 Wliiroy....... 31.62'A East Sullivan Windfall 13.00 Falconbrtdge 145.00 Yellowknlfe Br. 12.00 Frobex........26 Zenmac 2.15 .51 2.00 .48 .07 1.55 .24 16.50 T.90 22.75 2.95 1.32 12.25 .77 10.12'A 1.26 e.oo .11 34.50 20.75 .22 2.85 3.15 1.91 .21V 11.00 .30 33.00 3.70 1.50 .09 1.20 .09 1.20 .89 .75 .12V .23 161.00 .16 .33 10.00 .16 .37V 1.97 27.75 10.25 11.50 .30' 30.25 30.00 33.00 .68 .221 1.30 .29 14.50 5.75 2.05 18.62' .07> 2.55 1.91 6.70 .55 1.96 3.75 1.60 1.33 .15 4.95 .10' NEW YORK STOCKS Supplied by Richardson. Securities of Canada Amr T T 43.87H Montiomiry Ward 36.11'A 10 Gold! 179.85 off .is Anaconda 21.15 Sears 70.00 10 Base Met 96.03 up .04 Bin Steel Sid Oil of N.J. 67.8714 15 W Oils 180.47 Up .0 Chrysler Texas Gulf 116.35 Volume Comsat Texas Co 31.15 NEW YORK AVIRAOE Dupont Woolworth 30 Indust 758.74 up 2.26 General Motors 70.50 Westlnqhouse Elec 64.15 10 Rails 151.01 up .03 Gulf 19.00 U.S. S'leel 30.15 15 Utilities 105.99 off Int Harvester TONONTO AVERAGES 65 Stocks 143.34 up Kcnn Copper 40.50 20 Indust 146.44 off .64 Volume Beef Futures WINNIPEG (CP) on the Winnipeg beef futures market Monday was fairly quiel with some contracts in Novem her. Friday's volume of trade rep- reseated six Open Nov 28.70 Jan Mar contracts. High Low Close 23.70 29.25A 29.47N SECOND PLACE Italy has more than miles superhighways, secom in Europe only to West Ger many. Grain Prices Winnipeg Grain Prices WINNIPEG (CP) Most commodities posted gains at the close of the Winnipeg Grain Exchange today in continued ight trading Rapeseed prices, which were stronger at mid-session, closed on good advances in some ex- jorter buying. Commercial interest tn flax was not sufficient to absorb moderate hedges. Oats and barley had domes- jc shipper buying for eastern ieeders, with some exporter in- continuing in barley. Rye had some exporter buy- ing, with prices generally stronger following the trend on the Chicago wheat market. Monday's volume of trade was bushels of flax, of rapeseed, of rye. Export loadings of Canadian Wheat Monday included bushels to Algeria, to Brazil, to Japan, to Singapore, to Syria, to Tunisia, to Britain, to ths, U.A.R. Prices for class two wheat [or export to countries outside IGA: 1 Nor 2 3 1.74: 4 1 Durum 2 3 1.70; IGA prices: 1 Nor 2 3 1.74; 1 Durum 1.8154; 3 1.70. High Low Close Flax Qct 267 285% 266% Nov 262% ZGltt 262 Dec 241% 239 241% May 251% 249% 257% Rapeseed Vancouver Nov 251% 256% Jan 253V4 248 252% Mar 246 2421i 245% May 242V4 239V4 241% Rapeseed Thunder Bay Oct 256 251V4 255 Dec 232% 232 232% Apr 240% Oats Oct 86% Dec May 86% 85% Jly Barley Oct Dec 126% May Jly Rye Oct Dec May Jly 8554 86 85Vi 86% 86 85V4 86 102% 104% 126% 101% 103% 111% 128% 126% 128 12714 102% 104% 113% Kaiser Resources Ltd. has re- ported it is encountering seri- ous financial and production problems with its southeastern British Columbia coal opera- ion. Reporting a net operating oss of 27 cents a share for the irst nine months of this year, 'ack Carlson, company presi- dent bared Ins need for addi- tional capital expenditures of more than million, nearly one-third the original esti- mates. He said Kaiser needs to renegotiate its 15-year contract with.a Japanese steel industry consortium. Rumors in business circles lad it that certain geological information had been misread and the company had in fact built the wrong kind of proces- sing plant. Monday's report said that iaiser Resources "now is de- veloping plans and taking cor. rective measures with respect :o the required modifications ;o the preparation plant and mining facilities, and is study- iig the effect on future costs of operation." Kaiser Resources is a divi- sion of Kaiser Steel of Oakland Calif. The coal operation is in the Crowsnest Pass east of Fer- me, near the Alberta border. The company had originally estimated capital expenditures of getting Kootenay coal out and aboard ship at Roberts Bank bulkloading terminal at million. Later this estimate was increased by about 15 per cetn to ?97.7 million, but the ad- litional expenditure would iring the total to million. Shipping figures indicate that Caiser Resources has to date ailed to ship the tonnage re- quired by its long-term con- tract with the giant Mitsubishi Jhoji Kaisha Company of Toy- o. Mr. Carlson blamed high op- erating costs 'of underground Hog Prices EDMONTON (CP) Hog prices today provided by the Alberta Hog Producers Mar- keting Edmonton: Quoted and sell- ing 23.55, average Monday 23.58. Red1 Beer: Quoted and sell- ing 23.55, averagB Monday 23.56. Calgary: Quoted 23.50 to 2365, selling 23.65, average Monday 23.51. Lethbridge: Quoted and sell- ing 23.00, average Monday 23.01. L1 o y d nrinster: No market average Monday 23.30. Total hogs sold to, 11 a.m 853. Sows selling 14.75. Total bogs sold Monday 8 894, average 23.52. MANY DISEASES The coffee tree is subject to 375 diseases, including 10 sen ous ones, of which the worst the coffee rust. mines and, oilier old facilitiei as being primarily responsible for the company's continuing losses. "Several new and unforesee- able problems have been en- countered in recent he said, "including a require- ment for establishing a larger backlog of stripping ahead of coal mining and higher strip- ping ratios earlier than had been expected." LIVESTOCK Lethbridge Livestock (Supplied by Canada Department of Agriculture) On offer to 11 a.m. 160 cattle Receipts mostly slaughter cattle. Trade active. Good and choice butcher steers meeting improved demand prices steady. No choice kinds sold early. Medium and good cows selling about steady. No re- placement cattle sold early. Choice steers 27 to 27.50; good 26.50 to 27; medium 26 to 27. Good choice heifers 25.50 to 2S; medium 24 to 25. Good cws 20.50 to 21.10; me- dium 19.50 to 20.50; canoers and cutters 16 to 19. Good bulls 21.50 f.o.b. Lethbridge price. 23.20. 23.00 bas< Calgary Livestock CALGARY (CP) Receipts to 11 a-.m., head, mostly good to choice slaughter steers and heifers, with a large per- centage being steers. Trade was active with a good out-of- province demand. Slaughter steers sold steady to 28.20, heifers sold steady. Cows were mainly medium and canner kinds with prices un- even. Bulls sold steady. Choice steers 27.50 to 28, good 28.50 to 27.25, medium 25.50 to 26.25. Choice heifers 26.50 to 27, good 25.50 to 26.25, medium 24.50 to 25.25. Medium to good cows 19.50 to 21.30, earners and cutters 15 to 18.50. Good bulls 22 to 23.30. Wholesale Prices Steady OTTAWA (CP) Wholesale prices held steady in September and were only marginally up from 12 months earlier. Preliminary figures published today by Dominion Bureau of Statistics show the general wholesale price index in Sen-' Replacement cattle and tember at 284 points compared stock calves were scarce, sell- with 283.9 in August and 283.4 in mg at steady prices with qual- ity considered. Good feeder steers 750 pounds up 27.50 to 28.50, good feeder cows 18 to 22.50. Good stock steer calves 500 pounds up 35.50 to 38.50. Hogs base price 23.50 to 23.65. September, 1969. The index, based on 100 points for prices before the Second World War, had moved ahead by three-fifths of a point be- tween August and September, 1969, compared with the slight shift of one-tenth of a point this year. Among eight main compo- nents of the general index, wholesale prices of vegetable products moved ahead by three-fifths of one per cent, chemical products ,by three- tenths of ona per cent and non- metallic minerals by one-fifth of one per cent in September. Indexes for animal products, non-ferrous metals and wood products declined, while those for textiles and iron products registered negligible shifts. 100 Copies plui tax 726? Datsun 1600 Pickup it's all the truck you need at half the price you've been paying For around half fhe price of an ordinary truck, you get a truck that will get up to thirty miles to the gallon, oruisa at 70, and carry a ton of anything. Even elephants. For around half the price of an ordinary truck, you get a 96 horse overhead camshaft engine, 6 ft. steel box, 4-speed all synchro shift, heavy duty suspension, dual brake system and whitewalls. A Datsun truck is built for mite reliability. So it will go a long way and do a lot of work without causing a lot of trouble, Without costing a lot of money. The Datsun 1600 truck is all the truck you need for half the price you've been paying which is one reason why it's North America's best-selling imported pickup, The tnore-for-your-money truck. DATSUN 1600 PICKUP Suggested relail prico F.O.B. Vsncouvei Toronlo. Montreal, Halifax, local freight. Icence, provincial tax, it applicable, axtra FOREIGN CAR (LETHBRIDGE) LTD. Corner 3rd Ave. llth Street S. Phono 327-3933 There are more than 1000 Datsun dealers across Canada and the U.S.A. ;