Lethbridge Herald, The (Newspaper) - September 4, 1970, Lethbridge, Alberta
Friday, S.pl.mbir 4, 1970 THE IETH3RIDOI HRALB 17 Stronger Trend Evident Today TORONTO (CP) The To- ronto stock market pushed sharply upward in active mid- morning trading today as it en- tered its second consecutive rally session. On index, industrials rose 1.11 to 161.81, base metals .06 to 95.54 and western oils .84 to 179.86. Golds were down .25 to 158.70. Volume by 11 a.m. was shares, up from at the same time busi- est trading day since May 28. Industrials registered their best gains in almost two weeks Thursday. Oil refining, industrial mining and chemical sectors showed the most strength today. Slater Steel was up to Alberta Gas Trunk to International Utilities Vz to Husky Oil to Pa- cific Pete to Brascan to and Asamera to Opemiska climbed to ?12, YeUowfcnife Bear 15 cents to Ranger V4 to 11% and French Pete 15 cents to BANKS DIP MONTREAL (CP) _ Most sectors registered firm prices in heavy mid-day trading on the Montreal stock market except banks, which fell more than a point. By 11 a.m., nearly shares had changed hands to continue the heavy daily vol- umes that began two weeks ago. Among banks, Commerce slipped V4 to Royal Vt to and Nova Scotia Vs to In senior oils, Calgary Power was ahead to Pacific Pe- troleum to SheE Canada to Pacific Petroleum to Shell Canada to Husky Oil to and Inter- provincial Pipeline Vs to Dofaseo was ahead Vs to Brascan Vi to MacMillan-Bloedel to and Massey-Ferguson Vi On index, papers rose .31 to 88.56, industrials .22 to 164.24 utilities .07 to 133.54 and the composite .06 to 160.95. Banks slipped 1.10 to 178.38. NEW YORK (AP) Stock market prices rose today moderate trading. At noon, the Dow Jones aver- age of 30 industrials was up 3.69 at 768.96. Advances outnumbered losers by nearly 3 to 1 among issues traded on the New York Stock Exchange. The advances ran through rubber issues, farm imple- ments, aircrafts, utilities, and building materials. Control Data was off at IBM ahead 1% to Polaroid ahead Vs at and Xerox up at The Associated Press 60-stock average was up .9 to 252.7 at noon. Noon prices included East- man Kodak up at and American Brands up Vt at Among Canadians, Mclntyre Porcupine rose 3 points to Up were Distillers Seagrams at and Granby Mining at Canadian Pacific was off at On the American Stock Ex- change, Scurry Rainbow Oil fell V4 at and Molybdenite Can- ada Vs at Up Vs were Bras- can at Canadian Javelin at and Canadian Marconi at DIVIDENDS Cellulose Co. Ltd., pfd. 30 cents, Sept. ou, record Sept. 8. Revelstoke Building Materials Ltd., 6 per cent pfd., 30 cents, Dec. 1, record Nov. 17. Amr T and T Anaconda Bth Steet Chrysler Comsat Dupont General Motors Gulf Int Harvester Kenn Copper NEW YORK STOCKS Supplied by Richardson. Securities of Canada 47.25 Montgomery Ward 26.50 20 Golds 15B.97 'off .04 2250 Sears 66.50 10BaseMet95.59up.il 23.00 Std Oil of N.J. 65.12'A 15 W Oils 192.02 up 3.00 3375 Texas Gulf 1I6.62W Volume 24.25 Texas Co 31.37MNEW YORK AVERAGES 124.50 Woolworth 30 Indust 770.61 up 73.75 Westinghouse Elec 20 Rails 137.19 up .15 27.3714 U.S. Steel ,.31.87Vi 15 Utilities 109.69 Off .10 25.00 TORONTO AVERAGES 65 Stocks 241.33 up 1.01 40.50 20 IndUSt 163.22 Up .52 Volume DISPLAY SUPERVISOR WANTED Unusual career opportunity for right person with department store display experience. This Individual will be fully responsible for all aspects of display, merchandise presentation and ticket writing. Salary commensurate with experience" and ability. Liberal company benefits with definite growth potential. Apply Personnel Office, Second Floor 1 EATON'S Livestock Market Report Lethbridge Livestock AFTERNOON SALE Calgary Livestock CALGARY (OP) Receipts to 11 a.m., about 465 head mostly all replacement. Trade was active. Slaughter steers and heifers sold steady for quality with the week's closing prices. Cows and bulls higher. Grain Prices Winnipeg Grain Prices WINNIPEG (CP) Momen- tum in oats, barley and rye gained strength near the close of the Winnipeg Grain Ex- change today. The moderate volume ol trade came from exporters anc domestic shippers. Flax and rapeseed showed recoveries after a day-long trend to easier prices. Total futures trading volume Thursday was flax bu- shels, rapeseed" and rye Export loadings of Canadian wheat involved bu- shels to India, to Syria and to Britain. Prices for class two wheat for export to countries outside IGA: 1 Nor 2 3 4 1 Durum 1.67; 2 1.64; 3 4 IGA prices: 1 Nor 2 3 1.63'A'- 4 1 Durum 1.67; 2 1.64; 4 High Low Close Flax Oct 271 272% Nov 264 261% 263% 257% 257% 266V2 264-% 266% Dec May Rapeseed Nov Jan Mar May Oats Oct Dec May Barley Oct Dec May Rye Oct Dec May 250V4 252% 244% 246V4 243% 245'A 242% 88% 87% 88% 88% 89% 88% 89% 120% 119% 120% 121% 120 121 125% 124% 125% UFA 110 110 109% 115% 114% 115% Hog Prices EDMONTON (CP) Hog >rices to 11 a.m. provided by he Alberta Hog Producers' Marketing Board: Edmonton: Quoted 26.30, sell- ing 26.30. Average Thursday 26.47. Red Deer: Quoted 26.25, sell- ng 26.25. Average Thursday Calgary: Quoted 26.30 to 26.50, selling 26.50. Average Thursday 26.90. Lethbridge: No market. Av- erage Thursday 26.20 Lloydminster: No market. Average Thursday 26.08. Sows sold at 16.75. Hogs sold at 11 a.m. 224, Thursday average 26.54. FOURTEENTH LARGEST Kansas is the 14th largest of he United States. Choice steers 28 to 28.60, good 27 to 28, medium 26 to 27. Choice heifers 25.25 to 25.80, good 24.25-25, medium 23 to 24. Good cows 21 to 22, medium 20 to 21. Carniers and cutters 17.50 to 19.25. Good bulls 24.50 to 25.60. Replacement cattle met a good local demand at strong prices. Stock calves on offer were mostly of medium qual ity. Good feeder steers 750 Ibs up 28 to 30, under 750 Ibs. 32 to 34.30. Good feeder heifers 650 Ibs, up 26.50 to 28.30, few good heifers near 600 Ibs. 28.80. No slaughter calves on offer. Hogs base price 26.30 to 26.50. MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Hosdhouse and McCuaig) LAST BID OR SALE a.m. Quotes) WESTERN OILS Almlnex Asamera Banff B.P. Oil Gas Can South Cdn Ex Gas Cdn crldoll Cdn Homestd Cdn Ind Gas Cdn Long Is Cdn Super Cen Del Rio Charter Chleflan Dome Pele Dynamic Pete French Pete Gt Plains Mill City New Cent North Cdn Oil Numac Permo Petrol 5.50 16.25 12.25 4.BO 4.50 8.70 9.10 10.75 .70 35.75 11.75 6.40 7.70 43.00 1.50 7.20 25.75 l.fiQ 1.14 7.25 7.85 1.00 1.45 1.02 1.31 .70 11.25 6.75 a.m. Quotes) Husky Oil 13.25 Husky OH War. 6.35 Inter Prov Pipe 12.25 Infer Steel Pipe Jefferson Lake Joutel Kaiser Res Kam Kptla L Ont Port Mentor Newconex Pacific Pete a.m. Quotes) Corp Invest 4.95 5.41 Corp invest S F 4.45 4.86 Dreyfus F U.S. 10.2? 11.28 Equity 5.59 6.U Gr In Shares 1.20 Invest Gr 12.25 1.74 2.05 nk Org lk Hold Pinnacle Place Gas Ponder Ranger Scurry Rain Spooner West Decalta MISCELLANEOUS INDUSTRIALS Afco Ind 10.50 Aquataine 23.75 Brit Nfld 4.B5 Cdn Brew A Pfd 29.50 Cdn Brew B Pfd 36.00 Cdn Hydro Car. 16.00 Cdn Pacific Inv CPR Pfd Crows Nest; Ind Cygnus A i.iU Cygnus B 6.00 Gt Cdn OH S 4.35 Gt Cdn Oil 6-75. 100.00 Home A...... 21.00 Home B Home Pltfld Hud Bay Co Hud Bay Oil Pfd Hugh Russ 1.74 23.50 8.50 51.50 Rai Selk Shell Inv 31.0Q Shell Inv Pfd 28.75 Shell Inv Wts 73.50 Sicks Rainier 4.00 West Cdn Seed. 2.10 White 'Yukon 16.75 CALGARY Acroll Ana Pete......07 Barons Oil North Cont Plains Pete West Warner Madison.......26 Quinalta.......05', Rexdale.......14 PIPELINE! STOCKS Alta Gas Tr L A 47.75 Alta Gas (Nat) 19.75 inland Nat N and C Invest Mutual Mutual Ac P Mutual Gr F Nat Res N W Fin N W Gr 13.87% Principal Gr 2.91 3.20 9.46 10.34 4.76 5.21 4.59 5.05 ISO 4.16 6.78 7.41 3.54 3.8 4.21 4.63 3.55 3.90 4.76 4.91 4.17 4.5B 6.4fi 7.06 Royfund United Ac Universal Sa' VANCOUVER Anuk ____ Arclic Mining Atlas Explor Beth Copper DD Bornlte Ridgs Block Bros Brenda B.C. Sugar Capt Inter Churchill Copper ___ Crest brook For Ind 6.25 .26 1.10 16.00 .17 4.05 10.00 15.25 3.00 .3? Croyden Dolly Varden Dynasty Endako Fort Reliance Glanf Mascot Gas 10.87% Granisle 73.50 Key Indust Gas Tr 12.00 Hy's Gaz Metro 3-90 Interior Brew Tr Cdn P 29.25 Jericho Tr Cdn P PW 39.65% Kamloops Copper Tr Cdn P Pfd A 57.50 Lornex Tr Cdn P War 9.40 Westcoast Tr 2D.OO Western Pacific 5.00 MUTUAL FUNDS 7.00 13.12% .60 3.00 13.25 .34 2.75 AGF Special All Cdn Com All Cdn Divid All Cdn Vent 21.62Vi Amr G F 2.20 Crn invest F 15.12% Col Mutual 57.00 Cmnw Inter 20.00 Crnnw Lev Lytton Minerals New Cronln ___ New Imp Mines Primer ___ Pyramid 6.30 6.97 Silver Standard 7.38 8.07 T C Explor 3.17 3.49 Texmont 4.2fi 4.68 Trojan 4.16 4.57 Western Mines 5.19 5.70 Westcoasf Res 11.09 12.15 Western Explor 2.BO 3.07 Utica TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada INDUSTR Abltlbl..... Alcan...... Algoma Steel Atco Ind Allan Sugar Brazil Trac B.C. Tel Burns B.C. Forest B.C. Sugar CAE Ind Cfid Brew Chemcell Co! Cellulose Cal Powell Coron Credit CWN Gas Cdn Indust Canada S S Cdn Marconi Cdn Vickers Chrysler CPR........ Comlnco Cons Bath Cons Gas Dlst Sea Dom Bridge Domtar Dom Textile Dam Stores 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 Oil Imperial Tob Int Nickel Int Pipe..... Inv Gp A Int Utilities Ir.dust Accept Laurenfide Loeb....... Loblaw A Metro Stores Massey Ferg McMillan Bloe Moore Corp Molsons A Molsons B Norlh, Cent Pemblna Pp LAST BID OR SALE a.m. Quoies) Quotes) IALS Power Corp Price Co 22.M16 Rothamns 13.25 Law Corp IQ.fVh Shell CDA 6.50 Simpson's Simp Sears <50.00 Sleel of Can 8.75 Selkirk A 24.25 Texaco 15.37'A Traders Gp A a.m. Ouotesl Frobex FIrsf Marlli 2Q.5Q Giant Y-K Gunnar Granduc 30.50 21.00 22.25 10.50 2J.OO Headway R.L. Hollinger Hud. Bay M-S Hydra Ex. Trans Mtn Pp Trans Can Pp Union Gas Union Oil Versatile Mfg Wesieel Union Car 9.8714 Weston's B 24.00 Woodward's A 3.31) West Cdn 5d 5.12% Zenith Elec BANKS Can Imperial Montreal Nova Scotia Roy-il...... Tor-Dom..... MINES Acme........ Advocate Asb. 975 Akaitcho -is'oo Area Mines Belcher Iron Black Bay Bralorne 1525 Broulan 2.05 Bethlehem Brunswick Canada Tung. cassiar central Pat. O TJTA n'ul a tA< ill no 5.50 23.75 1.05 10.00 20.75 11.00 16.75 16JM 13.62% ,13.50 12.00 61.50 9.50 12.62% 22.00 16.00 2.10 1.55 Jollct Quebec Kerr Addison Key A.nacon Labrador Lake Shore Leilch..... Langis silver Mac; .18 1.10 7.90 1.26 6.45 12.50 33.50 20.75 .20 2.75 3.30 2.15 .26 .37 32.00 3.30 1.50 .07V'a 1.53 .84 Madsen R.L. Malaritc G.F. .66 Martin McNeely 11.50 16.00 18.50 1J.50 24.37% Conwesf Cons. Rambler 57.75 Coin Lake 14.25 Cochenowr 4.40 Cralgmont 4 85 DIckenson Mine t. Maybrun Maclntyre 3 Intern Mogul New Athona New Calumet New Imperial .4u Noranda..... 1.95 Northgate .46 Operniska osisko....... Patino Pine Point Placer Dev. -J.flfi P.C. Exp..... 14.25 Quebec Man 20.62% RayrocK..... 27.75 Radtore 1.30 Rio Algom Roman Corp. Silverfields Sherrltt Gordon Silver Miller Steep Rock Siscoe 2.00 1.70 .23 16.00 11.75 .89 .14 5.67V5 Denison Mines 23.87'A Tek Corp. 20.00 Deer Horn 10.12'A D'Eldona..... 25.25 Dome Mines 31.87'A Donalda..... 14.50 Discovery Mines 73.75 East Malartlc 13.50 East Sullivan 21.75 Falconbridge .09 1.23 57.50 .26 1.30 1.15 5.60 135.00 Texmont Upper Canada Western Mines Wright Har. Willroy Windfall Yellowknlfe Br. Zenmac .25 150.00 .16% .29 10.25 .17 .27% 2.70 27.75 11.00 11.75 .29% 33.50 32.50 31.50 .90 .26% 1.43 .37 19.75 5.00 1.76 18.50 .07% 2.90 2.24 6.00 .49% 1.78 3.95 1.45 1.44 .13 S.75 .13 White Paper On Tax Reform Must Be Scrapped-Aalborg EDMONTON (CP) The federal government "appears to bo retreating from a completely unrealistic position" on tax changes affecting the mining in- dustry, provincial treasurer A. 0. Aalborg said here. He was commenting on two proposed revisions in the white raper on tax reform originally outlined by Finance Minister Benson.. The revisions would widen the definition of expendi- tures that would qualify for earned depletion in the mining industry. However, Mr. Aalborg said, "such a retreat xvill still leave :he conventional Canadian min- ing industry in a worse position than under existing tax laws." He reiterated the Alberta gov- ernment's belief the white paper should be scrapped and a start made on streamlining existing tax legislation. Referring to the Great Cana- dian Oil Sands plant and the proposed Syncrude Canada Oil Sands operation in Alberta, the provincial treasurer said a maj- or change In tax laws on which such sizeable projects are based "will not instill investor confid- ence In the Canadian economy." These projects will contribute to the long term economic de- velopment of an otherwise un- developed part of Alberta "and therefore should not be discour- aged by implementation of rad- ical untested tax Mr. Aalborg said. Alberta "regrets" that at the same time Mr. Benson made no reference to revisions in paper proposals affecting the conventional petroleum indus- try. While Ottawa has been told of the uncertainty created by the white paper affecting in- vestment in the petroleum in- dustry "it would appear Mr. Benson is now recognizing un- certainty in the mining indus- try but not uncertainty in the petroleum Mr. Ait borg said. "Unless Canada provide! competitive tax incentives, suf- ficient petroleum Industry in- vestment capital will not forthcoming and necessary oil and gas reserves will not developed over the long term to supply prospective rcarkets." A third revision proposed by Mr. Benson dealing with In- creased federal government abatement for taxes on mine profits "is purportedly designed to give provincial governments the opportunity to bring taxa- tion of mining profits into line with taxation of profits in other the provincial trea- surer said. But this Is o! little signlfi- car.ce to Alberta because it' does not levy a mineral tax. "It also appears that the fed- eral government is now at- tempting to shift an undesirabto situation from federal to provin- cial shoulders." Surplus Grain Is Golden Opportunity TORONTO (CP) Ontario Agriculture Minister William Stewart said Thursday the sur- plus grain situation in Western Canada "presents the greatest opportunity Canada has ever jad to seriously develop a com- jetitive export business in agri- :ultural food products." Mr. Stewart, speaking at an Agricultural Day luncheon at he Canadian National Exhibi- Jon, said federal and provincial jovernmenls should work with Jie agriculture industry "to aunch an aggressive campaign to sell agricultural food prod- ucts in every export market hat can be found. The minister described the situation of Western Canadian the agriculture industry "to grain to increase cattle and hog jroduction. "If we can successfully capi- ,alize on the opportunity we may open up a whole new era of exporting meat and meat prod- ucts to the mutual advantage of the entire agricultural dustry in Canada." Dollar Value MONTREAL dollar hi terms of Canadian funds un- changed at 25-32. Pound sterling off 1-16 to 7-16. NEW YORK (CP) Cana- dian dollar down 1-61 at 98 17-64 in terms of U.S. funds. Pound sterling down 3-32 at 5-32. Beef Futures WINNIPEG (CP) Trade was light in Winnipeg live beef futures today with some trans- actions in September and No- vember contracts. Open High Low Close Sept. 30.00 30.15 30.00 30.15 Nov. 28.80 28.80 Japanese Food A Tours Nation To WINNIPEG (CP) Five of- icials of the Japanese food agency, a major buyer of Ca- nadian grain, are visiting Can- ida on a fact-finding tour of he Canadian grain industry. The Canadian Wheat Board laid in a news release the visit s part of the board's contin- u'ng sales promotion program. During their 23-day stay In Canada, the food agency fepre- entatives will study the gram trade, grain farming, handling Potato Prices WINNIPEG (CP) There vere no trades in Maritime po- ato futures today although here were some bids and of- ers. Open High Low Close Vov. 2.22B March 2.50N April 2.72A May 3.15B gency Team Probe Grain and transportation. They will visit farms, 'grain terminals, country elevators and other fa- cilities. The mission is headed by H. Horikawa, chief of the general affairs section of the agency. CFCN-TV APPOINTMENT STANLEY BATES E. W. Chapman, President of CFCN Television Limited, is pleas- ed to announce effective Septem- ber 1st, 1970, the appointment of Stanley Bates as Acting Mana- ger, Channel 13. With over six years of broadcasting experi- ence, the last nineteen months at Channel 13, Stan Bafei and his staff will continue to offer advertisers quality service and creativity to match advertiser needs in Lethbridge and South- ern Alberta. 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