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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 30, 1970, Lethbridge, Alberta Market Lower In Light Trade TORONTO (CP) The To- ronto stack market moved mod erately lower in light mid-morn ing trading today. On index, industrials were of .44 to 161.80, golds 2.34 to 179.61 and western oils 1.38 to 177.87 Base metals gained .08 to 94.24 Volume by 11 a.m was shares, compared with at the same time Thursday Weakest sectors were food processing, pipelines, trust and loans and chemicals. Ten of the exchange's 17 sub-indexes were lower. Among losing issues, Mont- real Trust dropped to Oshawa A to Consum- ers' Gas Vt to Falconbridge Vi to and Dome Pete 2 to 176. Eoyal Bank lost to Hudson Bay Mining to Campbell Red Lake 1V4 to and Scurry-Rainbow to Shaw Pipe rose to Shell Canada to Xellers Vi to Bank of Nova Scotia to and Sherritt to Hudson's Bay Co. gained Vs to Bell Canada Vs to and BP Oil and Gas five cents to UTILITIES UP MONTREAL (CP) The Montreal stock market was un- settled in moderate trading to today's morning session. Utili- ties moved higher while in- dustrials and the composite index were fractionally lower and banks lower by more than a point. The Royal Bank of Canada, Off to today announced a reduction of its prime interest rate to IVz per cent from eight per cent. The bank is also re- ducing the rate paid on non- chequing saving accounts to 554 from six per cent. Both reduc- tions are effective Nov. 1. Bell Canada, up Vt to reports third quarter net earn- ings of or 91 cents a share, op from or 84 cents. Dome Petroleum lost to Montreal Trust to MacMillan Bloedel 54 to Bombardier Ltd. 54 to Nor- anda to Bank of Com- merce to and Hudson Bay Mining and Smelting to Distillers-Seagrams gained 54 to Shell Canada to International Nickel to and QSP Ltd.'A to On index, utilities gamed .29 to 137.14 while industrials fell 01 to 165.16, banks 1.32 to 169.84, papers .95 to 82.09 and the composite index .07 to 160.80. Combined volume on the Montreal and Canadian Stock Exchanges to 11 a.m. was shares traded, compared with shares traded at the same time Thursday. DJA DIPS NEW YORK (AP) The stock market continued to drift back and forth on the downside in moderate trading today. At noon the Dow Jones aver age of 30 industrial stocks dipped .62 points to 752.94. Among Canadian issues, Dome Mines lost 1 to Granby Mining was off at and Mclntyre Porcupine fell 54 to Gainers in- cluded Walker Gooderham up 54 at and Hudson Bay Mining up Vt at On the American exchange, Canadian Marconi gained Vt to. and Brascan was up Vs to Canadian Javelin lost 54 to and Jupiter Corp. was down a like amount at Brokerage Company Intervenes NEW YORK (AP) Merrill Lynch, Pierce Fenner and Smith, the largest brokerage house in the U.S., said here it has signed an agreement that may lead to an infusion of some million into Goodbody and Co., fifth-largest brokerage firm to the country. "Merrill Lynch's entry into this difficult affair is primarily because of its concern over the Goodbody said the announcement by James E. Thomson, Merrill Lynch chairman, and Donald T. Regan, president. "Merrill Lyneh-is convinced GMInRed For First Time In 24 Years DETROIT (AP) General -Motors Corp. has reported its first quarterly loss in 24 years. GM reported here a mil- lion loss for the July-Septem- ber period this year, compared with a profit of million for the same three months of 1969. GM's last quarterly toss was reported in the first quarter of 1946, when, as now, the corpor- ation was shut down by a strike of the United Auto Workers onion. lhat without its immediate in- tervention those customers would face financial they said. The US.. Securities and .Ex- change Commission said Mon- day that the New York Stock Exchange threatened Goodbody with expulsion if it did not raise additional capital by Nov. 5. Goodbody has 90 branch offices. Beef Futures WINNIPEG (CP) Trading was light on the Winnipeg live >eef futures market Thursday with some contrasts at current evel. There were five contracts Wednesday. Open High Low Close Nov 29.60 29.60 Jan 30.15 30J.5 Mar 30.20 ATTENTION! FARMERS and STOCKMEN If You Want TOP DOLLARS for your LIVESTOCK Consign to PICTURE BUTTE AUCTION MART Ideally located in the centre of large cattle feeding and hog raising area SATURDAY, OCTOBER 31st at 1 p.m. REGULAR CATTLE SALE 500 TO 600 HEAD Highlighted by: 160 CALVES from Weist Bros., Enchant 50 GRASS YEARLING STEERS from one owner 7i BRED HEIFERS Plus Regular run of FAT and FEEDER CATUE Alia 300 TO 400 WEANER, FEEDER HOGS AND BROCD SOWS FOR FURTHER INFORMATION CONTACT PICTURE BUTTE AUCTION MART JOE or JIM JURIS Phone 732-4400 or 732-4468 Picture Butts MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Rowlhause and McCuaig) LAST BID OR SALE a.m. Quotes) WESTERN OILS a.m. Quotes) a.m. Quotes) Atmlnex Asa inert Banff BP Oil Gas Can South Cdn Ex Gas Cdn Homestd 5.75 15.75 11. 62'. 4.70 4.45 6.60 Inter Steel Pipt Jefferson Lake Joule I j Kaiser Res Kam Kotla L Qnt Port Cem Mentor Paeific Peti Cdn Ind Gas Oil 10.37'A Rank Org Cdn Long Cdn Super Cen Del Rio Charter Chieftain Dynamic Pete Gt Plains Mill City New Cont Numac Permo Petrol Place Gas Ponder Ranger Scurry Rain Spooner W. Decalla a, MISCELLANEOUS INDUSTRIALS Atco Ind 9. Aquataine Brit Nfld Cdn Brew A Cdn Brew B Cdn Hydro Cdn Pac inv CPR Pfd Cygnus A Cygnus B Cum Prop Home A Home B Home Pllfld Hud Bav Co Hud Bay Oil .65 Shell inv 35.00 Shell Inv Ffd 10.3714 Shell Inv Wta Sicks Rainier West Cdn Seed Whltt' Yulon CALGARY Acroll Ana Pttft Barons Oil .67V North Cont .02', Plains Pete .34 west Warner .48 Madison .37 Rexdale .13 PIPELINE STOCKS Alia Gas T L A 45.50 Cdn W Nat Gal 14.75 1.55 1.23 27.00 1.95 .90 7.55 .77 1.30 1.24 .62 13.00 22.75 2.35 Grp In Shaft j.ui 9.25 Invest Grth 9.61 10.5 1.24 Invest Mut 4.84 5.3 7.62'A IOS Venturt 3.26 3.5 1.10 Mut-Accum F 4.63 5.09 1.75 Mut Grth Fd 4.04 .50 Mut Income 4.48 Nat Resourct 6.74 7.3 16.00 NW Finance 3.52 3.6 33.00 NW Growth 4.27 31.50 NE Equity 4.67 5.1 H.37V4 Principal G 3.59 3.9 Regent Fd 7.73 w 2.60 Royfund 4.9 United Accu 4.21 4.6 Unl Savings 7.0 VANCOUVER Anuk Arctic Mining Atlas Exptora BBthlehen Cop Bornite Ridge Block Brothers Brenda B.C. Sugar Captain Interns 23.00 Dynasty Endako Giant Mascot Key industries Gas Metro 5.00 Trans Can Pipe 30.50 U'OTIA Trns Can P Pfd 38.25 E'en Trns Can P War 10.50 Wstcst Trans. 19.62'A a w West Pacific 4.90 HV'S Slg MUTUAL FUNDS Brcw 5.1216 AGF Special 2.17 Kamloops Cop 453 7.55 8.25.Madrona 3.2S 3.56 New cronln 4.51 4.95 New Impe Mine 5.06 5.560hanagan Hell 11 m A" Cdn Com 1950 All Cdn Divl 21 oo All Cdn Ven 1 90 Am Grth Fd Can Grth 3700 Cdn Invest Fd 4.11 4.51 primer Hud Bay Oil Pfd 50.25 Col Mutual 5.27 5.79 Pyramid Hugh Russ 18.62Vfe Cmnwlth In 11.25 12.33 Silver .Standard Husky Oil 11 37W Cmnwlth Lev 2.85 3.12 Trojan Husky Oil B Pfd 39.50 Corp. Invest 4.87 5.33 West Mines Husky Oil War 6.15 c Invest S F 4.38 4.79 Westcst Resour Inter Prov Pipe 11.75 Dreyfus F US 10.37 11.36 West Exploratns Intl Util 35.00 Grth Equity 5.56 6.10 Ullca U: .12V S.4S 8.50 15.25 3.00 5.00 .35 .50 5.85 13.50 3.05 10.87V .32 J.85 2.70 4.90 .15'A 2.51 .33 .08 1.95 3.15 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada a.m. Quotes) LAST BID OR SALE a.m. QUOTES) (11 :w a.m. Quotes) INDUSTRIALS AbltibI Alcan Algoma Steel Atco Ind Allan Sugar Bell Tel Braz Trac B. C. Tel Burns B. C. Forest B. C. Sugar CAE Ind Cdn Brew Chemcell Col Cellulose Cat Power Coron Credit C. W. N. Gas Cdn industries Canada S. S. Cdn Marconi Cdn Vickers Chrysler C.P.R. Cominco Cons Bathurst Cons Gas Seagrams Dom Bridge Domtar Dom Textile Dom Stores Dome Pete Fam Players Fd of America Gt Cdn Oil Sds Gen Motors Gt Lakes Pap Gulf Oil Cda Hawker Sid 7.37Vfe Molsons b 20 62'A North and Cen 12 75 Pemblna Pipe Power t'orp Price Co Rotmans 1425 St Law Corp 58 M -Shell CDA Q ne Simpson's Simpsons Sears Steel of Canada Selkirk A Texaco Traders Grp A Trans Mtn Pipe Trans Can Pipe Union Gas Union Oil Versatile Mfg Westeel Union Carbide Wood A Zenith Elec BANKS Cdn Imperial Montreal' 25.00 15.25 4.50 7.50 4.10 6.00 23.50 1.15 11.12'A 9.25 25.50 3.25 7.25 24.75 61.25 21.50 12.62'A Falconbrldge Frobex 27 37'A 550 Giant Y.K. 7.87'A Gunnar 12 OS Granduc 1900 Headway R.L. Hollinger Bav 5150 Hydra Ex. 22.3m Highland Bell Bay Joliet Quebec Kerr Addlson err son Key Anacon ?.11A Labrador Lake Shore 16 00 Toronto-Dom M1NES 1155 Acme inwA Advocate Asb. Akaitcho Area Mines Belcher iron Black Bay Bralorne Broulan Bethlehem Brunswick 73.00 55.00 3.80 70.25 16.25 18.00 1.90 HaWKer ilQ I.VU rinnria Tnnn Huron and Erie 17.12Vi cassiar Hiram Walker 40.00 rpnlral Pal Imperial Oil 18.00 chlmo' Imperial Tob 14.00 conwest 43-25 cons. Rambli 24.50 Int Nickel Int Pipe Inv Group A Int Utilities indust Accept Laurentide Kelly Doug A Loeb -Loblaw A Metro Stores Massey Ferg McMillan Bloe Moore Corp Coin Lake cochenour 32.75 Craigmont 15-50 Dlckenson Mines 4-75 Denison Mines 5.12W Deer Horn 4.50 D'Eldona 5.50 Dome Mines 23.25 Donalda 10.12% Discovery Mines 22.62'A East Malartic 31.00 East Sullivan Lake Shore Langis Silver Macassa R.L. Malartic G.F. 1-35 Martin McNeeiy Maybrun 19.25 Maclntyre 15.00 Meta 18.50 Midrim 22.12Vii intern'Mogul 19.50 Nevt Athona New Calumet .07 New Imperial 2.15 Noranda .55 Northgate 1.96 Opemiska -45 Osisko Patino Pine Point Placer Dev. 14.50 p.C. Exp. 4-75 Qebec Man 1.87 Rayrock 22.37'A Rfjdiore 2.85 Rio. Algom; 1.40 Roman Corp. 11.37V4 Silverfields .77 Sherritt Gordon .16 Silver Miller .60 steep Rock 9.40 siscoe 1-49 Tek Corp. 25.00 Texmont .07 Upper Canada 1.05 Western Mines 64.00 Wright Har. Willroy 1.20 windfall' 1.46 Yeliowknifft Br. 5.00 Zenmac 143.00 .35 1.05 9.75 1.20 7.10 9.00 35.50 18.75 .21 3.10 3.20 2.00 .21 11.50 .31 33.50 3.55 1.87 1.58 13.00 .22 155.SO .14 .30 10.00 .17 1.98 36.50 9.60 11.25 .33 29.62VJ 32.00 M .20 1.26 .28 15.00 7JS 2.25 NEW YORK STOCKS Supplied by Richardson. Securities of Canada Amer T and T Mont Ward 25.25 20 Golds 179.58 off 2.44 Anaconda Sears 69.00 10 Base Met 93.86 off .30 Bin Steel 20.50 Sfd Oil of N.J. 15 Wes Oil 178.54 off .71 Chrysler 24.50 Texas Gulf Volume Comsat 46.75 Texas Co 32.50 NEW YORK AVERAGES Dupont 116.75 Woolworth 30 IndUSt 752.94 off .62 Gen Mofors 69.75 West Elec 65.00 20 Rails 145.57 off 1.38 Gulf 28.37'A U.S. Steel 29.62'A 15 Utilities 106.05 up .25 Int Harvester 23.25 TORONTO AVERAGES Slocks 2JO.D7 off .58 Kenn Copper 36.50 20 162.24, U.C. Volume 12 Million On Welfare WASHINGTON (AP) A record 12 million persons are on welfare in the United States, an increase of 20 per cent in the last year, the U.S. government says. The increase of two million welfare recipients from June, 1969, to June, 1970, is causing a severe tax squeeze at all levels of government and cuts in some welfare services and payments. Federal officials say Presi- dent Nixon's current million welfare budget may have to be boosted by as much as' million to cover the unexpected new costs. The U.S. government pays a little less than half the wel- fare costs with the remainder coming from state and local funds. Top Blood Donors SAN ZJTIANCISCO (AP) Two men over 60 are recognized as the country's top non-paic Wood donors, having given a total of 16 gallons each. The American Association of Blood Banks announced a specia' plaque Thursday for Sidney Steinberg, a 60-year-old neon- sign service man from Spring- field, Mass. Last year Alfred Ross, 64, now a drummer, in the Broadway musical Two by Two, won a similar award. MAGNA SIGN INTERNATIONAL LIMITED INVITES YOU TO INVESTIGATE THE MOST PROFITABLE AND INTERESTING BUSINESS OPPORTUNITY OFFERED IN YEARS. Because of overwhelming consumer acceptance the 3D Magnetic Sign business has become one of the fastest growing industries in its field. We are presently appointing dealers on an exclusive area basts to and operate completely equipped "Magna Sign Shops." Set-up and training is provided by Company personnel, plus a .continuing Dealer Supervision and incen- tive programme. A total investment of is required, which is secured by machinery, equipment and supplies. Please indicate area that interests you, plus name, address and telephone number, together with a brief ac- count of past business experience. Additional information will be supplied and an actual sample of the product wit! be sent to you. All applicants will bo contacted by telephone to arrange for a private interview. For further details write: MAGNA SIGN INTERNATIONAL LIMITED Dealer Division 1531 W. 15th Avenue, Vancouver 9, B.C. Phone: 732-8693 Livestock Report lethbridge livestock (Supplied by Canada Department of Agriculture) On offer to a.m. cattle and calves. Receipts mostly stocker calves and replacement cattle. Trade active. Good and choice butcher steers and heifers closed steady week's ad- vance. All classes of cows steady at the week's lower levels. The early sales of re- placement cattle and stocker calves look fully steady. Thursday's quotations as fol- lows: Steers: Choice 27.50 to 28.10; good 27 to 27.90; medium 26 to 27. Royal Slices Rate MONTREAL (CP) The Royal Bank of Canada today an- nounced a reduction of its prune interest rate to 754 per cent from eight per cent. The bank also is reducing the rate paid on non-chequing sav- ing accounts to 554 from six per cent. Both reductions are effec- tive Nov. 1. The Royal Bank's decision fol- lowed an announcement late Wednesday by the Toronto Do- minion Bank that it was reduc- ing its prime rate by one- quarter per cent to 7% per cent. The rate on non-chequing sav- ings accounts was also being re- duced by one-quarter per cent to 5% per cent. Treasury Empty BEIRUT (AP) Premier Saeb Salam has Warned Le- banon the state treasury has been plundered by graft and now is empty. "We came to power to find that the state treasury is totally Salam said in a television niter- view Thursday. He was ap- pointed premier Oct. 5. Heifers: Choice S6.50 to 27; good 26 to 26.50. Cows: Good 20.25 to 21; medi- um 19 to 20; canners and cut- ters 16 to 18.50. Bulls: Good 22 to 23. Good heavy feeder steers over 900 Ibs. 27.50 to 28.50; medium 26 to 27; good light stock steers 550 to 650 Ibs. 33 to 36.50. Good stock steer calves under 400 Ibs. 41 to 43.25; good stock heifer calves 33 to 35.40. Butcher hogs sold Thursday F.O.B Lethbridge 22.35 to 22.65 base price. Good lambs 23. Calgary Livestock CALGARY (CP) On offer to 11 a.m., about head; practically all replacement cat- tle and stock calves. Trade was active. Slaughter cattle cold in line with mid-week sales with most offerings canner and cutter cows selling steady with Thurs- day's close. Choice slaughter steers 27.75 to 28.50, good 26.75 to 27.50, me- dium 26 to 26.50. Choice heifers 26.75 to 27.40, good 25.75 to 26.50, medium 25 to 25.50. Medium to good cows 18.50 to 21, canners and cutters 14 to 18. No bulls. Replacement cattle and stock calves .sold at steady prices. Good feeder steers less than 750 pounds 32 to 35, more than 750 .pounds 28 to 34. Good feed- er heifers 28 to 30.10. Good feed- er cows 17 to 22.50. Good stock steer calves less than 400 pounds 39 to 43, 400 to 500 pounds 38 to 41.10, more than 500 pounds 37 to 39. Good stock heifer calves less than 400 pounds 32.50 to 35, more than 400 pounds 31 to 34. Hogs base price 22.45. Potato Futures WINNIPEG (CP) The Mar- itime potato futures market was fairly quiet Thursday with some bids and offers, but only one contract. Only one contract was signed Wednesday. Open High Low Close Nov 2.23.-Y Mar 2.57N Apr 2.70N May 3.08 3.08B Friday, Octobw 10, THILITHUIDOI HMALD 23 Grain Price Review Winnipeg Grain PritM WINNIPEG (CP) Rape- seed gains posted during the early part of the week were practically all lost by mid-ses- sion today on the Winnipeg Grain Exchange. The futures came under pres- sure of heavy reselling by an international house with prices as much as 1154 cents lower. There were early indications of profit-taking and the trading volume declined sharply by mid-session. Flax was also continuing on an easier pattern under pres- sure of commission house and elevator company hedge sell- ing and little exporter buying interest. Oats and barley were main- taining good trading levels with prices firm on domestic ship- per buying for eastern feeders. Rye was mostly inactive with a little inter-month trading. Thursday's volume of trade was bushels of flax, of rapeseed and 000 of rye. Mid-session prices: Flax: Oct. 3% lower 2.48B; Nov. 2 lower 2.47A; Dec. low- er lower 2.5254A. Rapeseed Vancouver: Nov. 1154 lower 2.83KB; Jan. 1154 Hog Prices EDMONTON (CP) Prices to 11 a.m. today provided by the Alberta Hog Producers Marketing Board: Edmonton: Quoted 22.25 to 22.45, selling 22.45, average Thursday 22.45. Red Deer: No market, aver- age Thursday 22.76. Calgary: Quoted 22.40 to 22.45, selling 22.45, average Thursday 22.87. Lethbridge: No market, av- erage Thursday 22.87. Lloyd minster: No market, average Thursday 22.15. Sows at all points 13.51. Total hogs sold Thursday, 414, average 22.52. Hogs sold to 11 a.m. 207. Dollar Value NEW YORK dollar down 5-32 at 97 31-32 in terms of U.S. funds. Pound sterlirig up 1-16 at 1-64. lower March 1054 low- er 2.67; May 9% lower 2.5954B. Rapeseed Thunder Bay: Oct. unchanged ,2.305zA; Dec. 85i lower 2.57A; April 11 lower 2.57B. Oct. 54 higher KttB; Dec. unchanged 87A; Mty Vi tower July not open. Barley: Oct. 1 higher 1.28A: Dec. lower May IVt lower 1.26MB; July not open. Rye: Oct. unchanged 1.0254; Dec. not open; May unchanged 1.11B; July not open. I Prices Thursday for clans two wheat for export to coun- tries outside IGA: 1 Nor 2 1.7854; 3 4 1.68; 1 Durum 1.8154; 2 1.7854; 3 1.69- 4 1.6554; IGA prices: 1 Nor l.SOVs; 2 1.7854; 3 1.7354; 4 1.68; 1 Durum 1.8154; 2 1.7854; 3 1.69y8; 4 1.6554. WINNIPEG (CP) Grain quotes Thursday (basis Lake- High Low Clow Flax Oct 25454 24954 Nov 25354 248 249 Dec 243 241% 243 May 253 25154 253 Rapeseed Vancouver Nov 295 282% 295 Jam 290 278% 290 Alar 27754 26954 27754 May 269 26254 269 Rapeseed Thunder Bay Oct Dec Apr Oats Oct Dec May Jly Barley Oct Dec May iy Rye Oct Dec May Jly 280ft 86Y4 87 86% 87 85 85 86 ------127 127% 127% 127H 102% 105 104 104 112% 112 112 WANTED FIRST CLASS LICENSED MECHANIC for General dealership in Blairmors Top wages and ideal working conditions. Writs Box 30, Blciirmort or phon. 562-2124, after hour! 562-2079. PREFINISHED PANELLING ONE DAY ONLY! TOMORROW 8 a.m. to 5 p.m. OPEN ALL DAY SATURDAY FOR THIS OCCASION ONLYI BUY DIRECT FROM THE WELDWOOD TRUCK AND SAVE! MM j LIGHT SKELETONE PER SHEET SHADOWTONE MERSALLA PER SHEET 4'x8'-4 MM t NEOPANEL WALNUT PER SHEET 4'x8'-4 MM t NEOPANEL TEAK SAVINGS UP TO NEOPANEL ROSEWOOD A' ro FREE DELIVERY USE CRESTLINE BUDGET PLAN PER SHEET NEOPANEL KNOTTY PINE PER SHEET CRESTLINE BUILDERS MARKET ODr- "LETHBRIDGE'S INDEPENDENT BUILDING SUPPLY HEADQUARTERS" 123 30th St, N. Phone 327-5444 or 327-5110 ;