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Lethbridge Herald, The (Newspaper) - September 1, 1970, Lethbridge, Alberta Market Gain Cut By Profit-Taking TORONTO (CP) The To-1 composite .41 to 158.90 and in ronto stock market was up mod- dustrials .05 to 1G3.07. Papers were off .16 to Bfl.96. Volume at 11 a.m. was erately in mid-morning trading today. On index, industrials climbed .53 to golds .54 to 161.95, base metals .11 to 95.45 and western oils .33 to 169.38. Volume by 11 a.m. was shares, compared with at tile same time Monday. The market was up during the first 30 minutes of trading but observers said profit-taking cut some of the gains. ____ Analysts attributed the market's strength to a re- duction in the Bank of Canada's lending rate to per cent from 7 per cent. Electrohome was up to Texas Gulf Sulphur to Canadian Hydrocarbons to J15, Bell to Hoyal Bank to Consumers Gas to and CPR to Investors Overseas rose 35 cents to and IOS Ltd. 10 cents to PRICES ADVANCE MONTREAL advanced sharply in busy trad- ing on the Montreal stock mar- ket today. Banks ajid utilities each shares. SLOW TRADE NEW YORK (AP) _ Stock market prices were moderately lower today in slow trading. At noon, the Dow Jones aver- age of 30 industrial stocks was down 4.52 at 7C0.06. Among Canadians, Dome Mines rose and Massey Alcan fel Vs and Mclntyre Por- cupine On the American Stock Ex- change, Scurry-Rainbow rose and Canadian Bail Bond System Attacked climbed more than one point in morning business. Other sectors were ahead slightly except pa- pers which slipped fractionally. The strength by banks fol- lowed an announcement Mon- day that the Bank of Canada had reduced its bank rate by one-half per cent to 6K per cent. Highlighting gains were Impe- rial Tobacco up to Royal Bank VB to Bank of Mont- real V, to Consolidated- Bathurst V8 to IDS Ltd. 15 cents to and St. Lucie Ex- ploration 2 cents to 55 cents. Hudson's Bay Mining slipped to TransCanada Pipe- lane Vi to ?28% and Jamex Ex- ploration 1 cent to 22 cents. Canadian Breweries was un- changed at chares. On index, banks rose 1.38 to 177.51, utilities 1.15 to 131.35, the Business FORM COMPANY The formation of Laurentide- Union Management Corp. was jointly announced at Vancouver by officials of Laurentide Fi- nancial Corp Ltd. and Union Acceptance Corp. Ltd. The announcement said the LONDON, Ont. (CP) Police Chief J. F. Gregory of Victoria said Monday Canada's bail bond system hinders policemen trying to protect the public from "professional criminals." Chief Gregory said bail is "a judicial matter and it should not affect police, but it does." "It affects the policeman trying to protect the public from professional he saic in an interview. Chief Gregory, one of abou 160 delegates attending the an nua! convention of (he Canadian Association of Chiefs of Police said there are cases of accusec persons on bail who receive; a second time after being charged with similar offences. The chiefs, who met in closed committee Monday to discuss such subjects as juvenile delin quency and crime in industry, are expected to make recom- mendations today to improve the bail system. London Police Cliief Finaly Carroll agreed with Chief Greg- ory, saying "we have guys out on bail who are still active." new will H-P Foods Income Higher EDMONTON (CP) Home and Pitrield Feeds Ltd. today reported net income of for the 12 weeks ended June 27, 1970 compared with for the same period in 1969. Earnings were 7.7 cents on Livestock Lefhbridge Livestock (Supplied by Canada Department o[ Agriculture) On offer to 11 125 cattle. Receipts all slaughter cattle. Trade moderately active. Good and choice butcher heifers un- der pressure, prices 25 cents or more lower. The few cows on offer seling at strong prices with odd heifery kinds to 21.30. No replacement cattle sold early. Choice steers 27.75 to 28.40; good 27.50 to 27.75; medium 26 to 27.50. Choice heifers 24.50 to 25; good 24 to 24.50. Good cows 20.25 to 21; me- dium 19 to 20; canners and cutters 15 to 18.50. Butcher hogs sold Monday '.o.b. Lethbridge 26.25 to 2G.D5 base price, Calgary Livestock CALGARY (CP) On offer o 11 a.m., about head; mostly slaughter steers anu Leifers of good to choice qual ty. Trade was active. Slaughter steers and heifers 'ere steady with insufficien ows or bulls offered to estab- ish a market. Choice slaughter steers 28 to 8.90, good 27 to 28, medium 6 to 27. Choice heifers 25 to 5.70, good to 25, medium 3 to 24. Replacement cattle were lostly heavy kinds. Good feeder steers more than pounds 27.50 to 28.60. Gooc eeder heifers more than G5( ounds 26 to 27. No stock or [aughterf calves offered early. Hogs base price 25 65. Portland Livestock (AP) Cattle nd calves early sales aughter cows 50 to 75 lower, ;her slaughter classes mostly ,eady. Slaughter steers good 900 to 1400 Ibs 24.00 to 28.00; slaugh- ter heifers small lot choice 740 Ibs 27.90, standard and good in- dividuals 22.00 to 24.00; slaugh- ter cows utility 18.25 to some with large fill 17.00 to 1800. Slaughter bulls commercial and good 23.50 to 27.50, high dressing individuals 29.00; feed- er steers high good and choice 750 to JlO Ibs 25.50 to 29.00; feeder heifers several lots Mgli good and choice 590 to 680 Ibs 25.75 to 26.90. MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Itaidhouse and McCuaig) a.m. Quoics) LAST BID OH SALE o.m. Quolcs) WESTERN OILS Almfnex Asamera Banlf Inll Utll Pfd 5.25 Infer Sleet Pipe 14.50 Jeflerson Lake. Joutcl Cr B.62Va Invest Gr Equity S.J7 6.01 in Shares 1M 3.15 4.50 Kaiser Res d.15 Kam Kotla 5.00 L Ont Porl Cem 8.15 Mentor 7 60 Ncwconcc Paclllc pcto 34.50 10.C71, 6.25 7.75 S9.DQ US 6.65 25.50 1.70 1.06 6.40 A 85 1.00 1.27 .00 1.17 us 11.25 1.72 210 .51 6.10 27.25 1175 29.00 13.09 2.15 15.00 _ P. Oil Gas Con Soulh Cdn FJx Gn3 Cdn Grlooll Cdn Homesld Cdn Ind Gas Cdn Super Cnn Del Rio Charier Cilieltan Dome Peje Dynamic Pels French Pete Gl Plains MIJJ Cily New Coot Norlh Cdn Oil Numsc Permo Pelrol Pinnacle Place Cos Ponder Ranger Scurry Ratn 19.00 Spooner 7.59 Wcsl Docalta 6.05 MISCELLANEOUS INDUSTRIALS Aqualaine 23.50 Brit Nfld 4 90 Cdn Hydro Car. Cdn Pac Inv PFd 23.75 CPR Pfd a.37', Crows Nesr Ind. 50.00 Cygrius A..... 4.65 GJ Cdn Oil S j 00 Gt Cdn Oil 6-75. lOOJIO __.. ____ Home A 17.6216 All Cdn Venl 3.16 3.45 Pvramid Home fl Amr Gr Fund 4.54 4.S5 liver Standard Hud Bay Co 14 Cdn F 4.10 4.50 T C Explor Hud Bay Oil Col i-10 5.40 Texmont Hud Bay Cll Pfd Cmnw Inter 11.07 12.13 Trojan Hugh Russ 20.DO Cmnw Lev 2.78 3-05 Western Mines Husky Oil 11.00 Corp Invest A.W) 5.35 Westcoast Res Husky Oil War 5.03 Corp Invest S F 4.33 4.79 Western Explor Inter Prov Pipe 12.00 Dreyfus F U.S. 10.2511.23 Utica Rank Org Shell Inv Shell Inv Pfd Shell Inv WIs SFtrfts West Cdn Seed White Yuk CALGARY Acrol) Ann Pete Barons oil Norlh Cent Plains Pelo West Warner Madison Qulnalla Poxdale PIPELINE STOCKS Alfa Gas Tr L A 45.50 Cdn W Nat Gas Inland Nal Gas N and c N and C B Pfd 27.00 Gaz Metro 4.00 Tr Cdn Pipe 58-75 Tr Cdn P Pfd A Tr Cdn p War 9.M Westcoasf Tr 19.50 Weslern Pacific 4.55 MUTUAL FUNDS AGF Special 2.05 All Cdn Com All Cdn Divld Invesl Mulual Mulual Ac F 4.52 4.p7 Mutual Gr F Nat Res H W Fin N W Gr Principal Gr Royfund Drilled Ac Universal Sai VANCOUVER Anuk...... Arctic Mining Atlas Explor Belli Copper ___ ,BS Bornllo Ridge .07 Block Bros .OW3.nrenda B.C. Sugar .30 B.C. Sugar Pfd Churchill Copper 21 Crcstbrook For Ind 6.00 05 Croydcn .14 Dolly Varden Dynasty Errdakf 3.77 4.15 4.69 7.31 3.51 3.Bfi 4.20 4.62 3.91 4.75 4.90 4.15 4.56 3 6.92 .20 .36 1.07 16.00 .16 3.90 11.2S 15.00 15.50 2.SO Tueiday, Soplomber I, T970 THE LSTHBRIDGE HERALD Investors Favored In Tax Change Proposals Says MP 16.00 Fort Rellonce Giant Mascot 73.25 Grsnlsle Key Indust Hy's Jericho....... Interior Brew KaTTilcops Copper Lornex. Lyllon Minerals ___ New Cronln 6.35 fi.P-1 New Imp Mines 7.W Primer 7.0S 13.00 .59 2.B5 13.7s 31 2.75 .12 8.95 2.55 .4.20 .10 .21 .85 OTTAWA (CD-Finance Min- ister Edgar Benson's proposals for lax law revision favor inves- tors over the interests of those whose income in from u'ages, salaries and pensions, Max Salesman said today. The leading New Democratic Party MP on the Commons fi- nance committee also said he and Jolm Burton East) will press for a new tax system that is neutral in its ap- plication to various kinds of in- dustry. Current tax law encour- ages resource development at the expense of high-employment secondary manufacturing and technological advance, he said. Mr. SalLsman called a press conference at the start o closed-door meetings of the fi- nance committee's steering group, in preparation for meet- ings starting next week to draft the committee's report to Par- Mr. Bailsman said all capital Iplicit laivs apart from the to gaias should be fully taxed and no attempt made to favor inves- tors in widely-held Canadian corporations, or to Integra' corporation profits taxes w: '.i personal income taxes. While the NDP favors legisla- tion to limit foreign ownership of industry in Canada to 25 per cent, this should be done by ex- system, he uddcd. There also .should be no discrimination in (ax law against public financing ..nd ownership. Tlie third party in the Com- mons, with 23 of its 265 mem- bers, the NDP favors Lhc use of tax credits for family responsi- bilities instead of basic exemp- tions from income tax. Price For Shares Reduced in [iament. The finance commitee has TORONTO MENES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE Quotes) a.m. Quofei) Grain Market management functions of Laurentide and Union, although the two will retain separate corporate and financial identities. FIRST RESTAURANT The Howard Johnson Co. of Boston has opened its first Canadian restaurant in downtown Montreal. A company spokesman said the American firm plans to construct at least 40 combined motor lodge restaurants in Canada over the next 20 years, through its Canadian licensee, Grangeroof of Canada Ltd. NO RATE INCREASE Co-operative Insurance Services will not increase premiums on automobile insurance, despite increases in operating costs, CIS president George Viereck announced at Saskatoon. Co-op Fire and Casualty Co-had a total of auto policies and fire policies this of shares outstanding compared with 7.5 cents on shares outstanding in 1969. In a report to shareholders, the Edmonton-based company said sales were compared with The board of directors declared a semi-annual dividend of five cents a share payable Oct. 5, 1970 to shareholders of record Sept. 21, 1970. Pavilion To Come Down OSAKA, Japan (AP': The million United States pavilion at Expo '70, which Japanese students offered to buy for Kill lorn down at a cost of about wlien the world's- fail- enris Sept. 13, U.S. officials said Monday. Organizers have decided to tear down most of the 100 pavilions in tre 815-acre fair ground. INTERIOR BREWERIES UMITED CRESTON, B.C. DIVIDEND NO. 50 Notice is hereby given lhat o quarterly dividend of five cenls per share on Ihe outstanding common shares of the company has been declared payabfe September 15, 1970, to shareholders of record September 1st, 1970, By Order of ihe Board. A. M, NOXON Secretary Treasurer. Creslon, D.C. August 19, futures WINNIPEG (CP) A light trade entered (lie September future on Hie Winnipeg bee futures market Monday. Prices there U'ere 35 points over previous close levels. Other montlis were inactive. Open High Loiv Close Sept. 29.25 29.40 29.25 29.40 Nov. 28.70N Jan. 2S.6SN DIETR'CH DENTURE CLINIC Certified Denial Mechanic; Metropolitan 328-4095 FOR RENT Building wifh Sq. Ff. or Less Located on 3rd Avenue with good parking Feasible for ony type of business Write Box 24, Lethbridge WINNIPEG (CP) Trading vas light and featureless today m the Winnipeg Grain Ex- ihange. Oats and barley drew a fair action at the opening but prices ased fractionally at mid-ses- ion as pressure came from Ledge selling. Rye prices also eased but re- ceived some export interest. Flax arid rapesced were firm n buying by exporters- and a U.S. house but also came in for ome hedge offerings. Export loadings of Canadian wheat included HG.133 bushels to Brazil, to India, to Italy, to Sy- ria, to the United Arab Republic, to Britain, to .Russia, to China, to Ho-Dg Kong, and to Japan. Total futures trading volume Monday was flax bu- shels, rapesecd and rye Prices for class two wheat for export to countries outside IGA: 1 Nor 1.73% 2 1.70ys; 3 4 1 Durum 167V4; 2 l.Wtt; 3 1.54% IOA prices: 1 Nor 2 Ablfidi Alcan Algoma Steel Atco Ind Allan Sugar Bell Tel Brazil Trac B.C. Tel Burns B C. Forest B.C. Sugar CAE Ind Cdn Brew Chemcell Col Cellulose Cal Power Cercn Credit CWN Gas Cdn Indust Canada S S Cdn Marconi Cdn Vickers Chrysler CPR......., Cons Cons Gas Dist Sea Dom Bridge Dom Texllle Dom Stores Dome Pete Fam Play Fd uf Amer Gt Cdn Oil Gen Molors Gt Lafces Pap Golf OH Cda Hawker SiQ Huron, Erie Hiram Walk Imperial Oil Imperial Tob Int Nickel Int Pipe Inv Go A Int Utilities Indust Accept Laurenllde Kelly Doug A Loeb...... Loblaw A Mclro Stores Massey Ferg McMillan Bjoe Moore Corp AfloJsons A Molsons B Norlh. Cent Pembina Pp a M) _ t 13.37W price Co Rotnmans st. Corp 42.75 shell CDA 12.50 Simpson's 60.00 Simp Sears Stefl of Can Selkirk A Texaco Traders Gp A MJn Pp Trans Can Pp Union Gas Union Oil Versatile Mlg Wcsleel Union Car 13.50 1325 21.00 6.25 9.00 11.75 ZO.JO 29.25 East Sullivan Falconbridg'e Frobex Firsl Giant Y.K..... Gtinnar....... Granduc Headway R.L. Holllnger Hud. BE 2-1 50 14.75 7.75 4.B5 5.25 22.75 1.20 10.00 10.00 23-00 3.25 500 2375 5i-OD 21.00 Weston's I Woodward's A Wesf Cdn Sd Zenith Elec BANKS Cas Imperial Munlreal Nova Scotia (Royal 16.25 Tor-Dom MINES Acme....... 1175 Advrcae Asb. 5S.OQ Akailcho Area Mines Sarnaf Belcher Iron BlacK Bay Bralorne..... Broulan....... BMhlchern Brunswick Canada Tung. Cassiar...... 1500 Central Pah. Chimo....... 2-1.12V2 Conwesl 7.75 Cons. Rambler 27.00 coin Lake Cochenour 4.40 Craigmonl" 5.62V5 Dickenson Mine 4.90 Denison Mines Deer Horn 19 50 D'Eldona 9.25 Dome Mines Donalds 31.75 Discovery Mines 13.75 MaJarJic 22 1 11.00 23.50 S.75 17.00 59.00 9.25 12.25 22.25 15.35 2.15 1.50 20.50 M-S 16.25 10.00 4SOO 4.00 74.50 10 00 75.25 1.80 15.75 40.50 lay Hydra Ex. Highland Dell Iron Bay Tso.......... Joliet Quebec Kerr Addison Key Anacon Labrador 29.55 Lake Shore Leilcli....... Langis Silver Macassa Madsen R.L. Malartic Merlin McNeely Maybrun..... Maclnlyre Mela........ Midrim....... Mogul 20.62V2 New Athnna New Calumet .0914 Hew 250 Noranda ,53 Northgale 1.90 Opnmiska..... ,itS Osisko....... 41 Pslino....... Pine Point 1.62 Placer Dev. .21 P C. Exp. 16.00 Quebec Man 4.80 Rayrock..... 5.1d Radicre 20.62W Rl oAlgom 2.70 Roman Corp. T.30 Silverfields Sherrill- Gordon .90 Silver Miller .14 Sleep Rock 42 Siscoe....... 10.25 Tek Corp..... 1 50 Texmont..... 2530 Upper Canada .03Va Western Mines 1.15 Wright Har. 60.00 Willroy....... .56 Windfall...... 1.30 Yellowknlle Br. 1.10 Zenmsc...... 5.70 136.00 .26 1.06 7.70 T.Ji fi.-fO .12 34.00 20.75 .22 2.85 3.30 2.01 25 11.25 .36 3.25 1.55 1.35 .85 .66 been studying Mr. Benson's tax proposals since last February and hopes to complete its work and recommend changes early next month. MANY BAFFLED Mr. Saltsman said Mr. Ben- son's desire for a wide, general discussion of the tax proposals he made in a white paper last November has failed. The ordi- nary salary and wage earner has not been able to understand the proposals and has not been heard while debate has centred on the views of special inter- ests. He said the chief preoccupa- tion of the tax proposals, as in the current tax system, is with the interests of investors in re-, source and other industry, This seriously disadvantages t h e great majority of people, who are not investors. TORONTO (CP) The mini- muni price at which shares listed on the Toronto Stock Ex- change become eligible for margin will be reduced to a share from effective today, the exchange said Monday night, A similar reduction takes place on the Montreal and Ca nadian exchanges today. The minimum price was in- creased to 52 from SI by the ex- changes in July, 1969, to curb investment speculation that gripped iJie market. The Vancouver exchange, which also raised its minimum price for eligibility to in 3969, reduced the minimum to in May. .17 .27 2.15 2B.50 11.00 11.75 .30 32.50 34.25 30.50 ,94 -25 1.40 .35 19.371ft 6.70 IB. ?.PO 2.10 1.56 4.15 1.60 1.37 .14 5.15 .1316 NEW YORK STOCKS Supplied by Richardson. Securities of Canada Amr T and T Montgomery Ward 25.00 Anaconda 23.50 Sears 65.00 Bth Steel...... 22.75 5ld Oil ol N.J. 65.75 Chrysler 23.75 Texas Gult 115.00 Comsat 39.25 Texas Co 3Q.65Yj DUpont 125.25 Woolworlh General Molors 73.75 WestinghOL__ ___ .....__ Gulf..... TORONTO AVERAGES 15 Utilities 109.57 oil .51 Int Harvester 2-U2V2 20 Indust 160.54 up .2fi 65 Slocks 23B.76 off 1.B6 Kenn Copper 3B.25 20 Golds 162.27 up -06 Volume tf.dM.OOO' 10 Base Met 95.43 up .74 15 W Oils 170.45 up 1.40 Volume NEW YORK AVERAGES indusr 758.42 olf 6.16 3 1.62% 1.67'A; 1.64V4 High Flax Oct Nov Dec May Rapcsccd Nov Jan Mar May Oats Oct. Way Barley Oct Dec Jay Rye Oct )cc -lay 4 1 Durum 3 Low 274V-I 385% 2fiHfe 2G8ft 260 274 2fa Close 274 2G5Vj 261 2687-s 262 255% 259% 255 253 249 249 250% 249Vj Canada's Export Surge Continues OTTAWA (CP) Canada' export surge continued through July, leaving the country with a trade surplus of million for the first seven months of 1970 after a small increase in imports. The Dominion Bureau of Sta- tistics reported imports in July totalled million, up 2.3 per cent from July last year. With exports Dreviously re- ported at million for the month, this gave a July com- modity trade balance in Can- --------_._ 83 83 Ve 85 I20V4 124Y, IDS 114 118Vi 119% 124Va 107'A 10B 113-1, Lettuce Workers Sign Coiiiracl SALINAS, Calif (AP) Intcr- tarrest Co., the Salinas Volley's a r g e s t lettuce grower, has igncd a contract with the strik- ig United Farm Vorlters Organizing Committee was announced here. Cesar Chavez, farm un eader, (old a rally the two-year ontract provides a S2.10 hourly Ihe first year. He said eld workers were paid an our before a farm workers rike started last Monday in 10 Salinas and Santa Maria alleys. ada's favor amounting to million. July's figure b r o u g h t 'the trade suiplus for the seven months to a total more than 4Vz times the surplus of ?339 million for tlie first seven months of The export surge is attributed to big demand in overseas coun- tries, coupled with export or- ders catching up on economic forces held in check last sum- mer and fall by strikes. DOLLAR INCREASED The latest export gains were made despite the higher cost of the big commodity trade sur- Canadian goods to foreign buy-1 plus for July should soften the Imports from the United States were up a modest 1.5 pe cent in July to S807 million, u 1.7 per cent for the seve months to million. DBS also issued figures Mon day showing Canadian imporl on a seasonally-adjusted basi up only marginally from Jun and below four of the previous five monlhs. SURGED AHEAD But exports on the seasonal ly-atljusled basis surged aheai to a new peak for the year million compared wit June's million. Canadi had a commodity surplus of million for the first six months of 1970 )Ut non-merchandise transac tions-such as the payment of in crest, d i v i de n d s, freigh charges and the country million, leading a current account surplus of ?262 million. The third quarter of the year August and September usually a period of substan- tial current account deficit, but Constables Risk Lives In Rescue EDMONTON (CP) Three RCMP constables risked their lives Sunday to free an Edmon- ton man from the cab of a wrecked timber truck 65 miles north of here. Robert Taylor was pinned in (he cab when the semi trailer truck overturned on Highway 46 near Abee. The truck hung precariously over an embankment with die- sel fuel trickling into the cab from two saddle tanks as Con- stables Bill Vye and Jim Clark of the Redwater detachment worked their way under the ve- hicle to open a window. Constable Bill Johnson of the Boyle detachment then slipped into the cab and worked for 90 minutes to untangle Mr. Taylor. "At any tick of the clock we could have had a real conflag- a witness said. "The two on the outside would have had some slight chance of es- caping but Constable Johnson would most certainly have been burned to death." Mr. Taylor was in hospital in Westlock today with ctits and bruises. Construction Slows At Calgary CALGARY (CP) Permits for construction valued at were issued by the city during August, almost mil- lion less than during the same month in 19C9. The only segment of the building market which showed an increase was the number of housing starts; 215 valued at compared inth JOS valued at last year. Total value of construction authorized so far this year is million, about million less than the same time last Tn a Idler fo members, tte Toronto exchange said 50 per cent margin will he allowed on shares selling at or more, 60 per cent on shares between SI .75 and 51.99 and 80 per cent on shares between and fl.74. Shares under cannot be margined. The same schedule of limits was set by the Montreal exchanges. A stock purchased at a share will require a cash pay- ment by the investor of a share and a slock at a share will require cash of a share. Any accounts requiring addi- tional margin are given until Sept. 30 to meet the revised re- quirements. The move was seen as an at- tempt to end the sharply re- duced trading that has accom- p a n i e d the recent market slump. year. Apartment and office con- structon is lower with govern- ment spending higher, mostly because of expansion at the University of Calgary. Company Dispute Settled ers resulting from the govern- ment's decision May 31 to let the Canadian dollar float on in- ternational exchange markets. Previously pegged at 92.5 cents In U.S. dollar terms, the dollar lias lately risen to more than 98 cents. The' new import .figures showed a 16.9-per-ccnt increase n July purchases from Japan, ising to million and bring- ng the total for the first seven months up 23 per cent to million. drain this year. Potato Futures WINNIPEG (CP) Bids and offers entered the Maritimes potato futures market Monday at levels above previous close, but there were few transactions. Open High Low Kov. March 2.50 April May 3.15 Close 2.220 2.50 2.75N 3.15 United Feeds Buys Economy United Feeds Ltd. of Calgary has purchased Economy Feed Service at 3515 2nd Ave. N. in Lethbridge. The firm, with head office in Edmonton, now has 11 plants throughout the province. Economy Feed, which had been established five years when it was sold this winter, employs 25 men. It was start- ed by three local men, Waller Gerdts, Ed Larson and Leland Stanford, who has remained plant manager under the new ownership. The plant manufacturers concentrates and feeds for all iypes of livestock, including poultry, beef and dairy cattle, logs and household pets. It specializes in poultry feed, supplying most of tlie turkey feed in the province. Imperial Bank Profits Rise TORONTO (CP) Canadian Imperial Bank of Commerce re- ports profits increased 13 per cent, or about million, to for the sine months ended July 31. Profit for the comparable pe- riod a year ago was and profit per share for tlie nine-month periods were 87.2 cents this year and 77 cents last year. Assets under administration at July 31 this year totalled and on the same date a year ago PARIS (AP) Bernard Corn- feld and Investors Overseas Sendees settled their dispute today Tpith an announcement that Cornfeld would end his proxy fight to regain control of the financial organization he founded. IOS said Cornfeld would be reinstated as B member of its executive committee. A joint statement from Com- feld ajid Sir Eric Wyndham- White, chairman of IOS, said Cornfeld had agreed to with- draw litigation he hegan against IOS. Cornfeld, the communique said, also agreed to withdraw his demand lor a meeling of shareholders for the election of a new board of directors. Both Sir Erie and Comfeld were present at a news confer- ence that Cornfeld called a "peace conference." Cornfeld resigned as IOS chief executive officer May 8, white the investment organization was foundering in the midst of finan- cial trouble. Egg Prices Canadian Bauds Win Honors DUNOON, Scotland (CP) [Vo Canadian bauds captured op honors in Iheir classes at he Cowal Highland interna- tional competition. Tlie High land Fusiliers o[ :itchencr, Ont., won the Sir Harry Lander trophy in tlie senior open band contest. In tlie juvenile competition, le Vancouver Kiwanis Juv- nile Band took first place, apturing Ihs Glasgow Eve- mg New Challenge trophy. There wore 103 pipe bands Consisting of musicians at ic Cowal gathering near Glas- ow. EDMONTON CP) Weekly egg and poultry report issued today by tlie Alberta depart- ment of agriculture. Eggs To producers A large 39; A medium 29; A small 14; B 12, C 5; Cracks 10. To retailers A large 51 to 52; A medium 40 to 41; A smal 25 to 26; B 25 to 31; C 20 to 21; Cracks 20 to 22. (Two cents extra in To con- sumers (in cartons) A large 55 to 56; A medium 44 to 47; A small 29 to 35, Poultry To Live No. 1 chicken Broilers, Turkey Under 52, 5; 12 to 18, 2314. Live No. 2 chick- en Broilers, 17. to 18, 201s. LETHBRIDGE COMMUNIir COLIEGE invites applications for the DOsition of TYPEWRITING SESSIONAL INSTRUCTOR Teacher Education and sev- eral cf typewnfirtq leaching experience essential. Employment lo begin im- mediately. Phone: DIRECTOR OF PERSONNEL LETHBRIDGE COMMUNITY COLLEGE 327-2141 The appointment of Basil Rab- nett as Co-ordinator, Environmen- tal Control, Shell Canada Limited, [s announced by J, F. Redmond, Executive Vice President. For- merly Manager, Product's Applica- tion, in Head Office Manufac- turing Department, Mr. RabneM succeeds J. M. Courtright who has retired from Shell to take up an appointment as Vice Prin- cipal, Development ond Infor- mation, at Queen's University. Mr. RabneH, o graduoJe of Mc- Gill, B.Eng., Mechanical Engin- eering, and of M.I.T., where oblainea1 a Masters degree (n Mechanical Engineering, joined Shell as Assistant Aviation Man- ager in 1945. He became Man- ager, Aviation in 1P4S and appointed Manager, Pfoducti Application, in 1951. COMPUTER ACCOUNTING AND MANAGEMENT LTD. Data Processing Services 507 CANADA TRUST BLDG. TELEPHONE 328-7883 ;