Lethbridge Herald, The (Newspaper) - September 7, 1973, Lethbridge, Alberta
Japan opens economy to foreign investment TOKYO (AP) The Japa- nese finally have opened their booming economy to nearly un- restricted foreign investment and ownership, but businessmen don't appear to be rushing in from the four corners of the globe. "There has been no signifi- cant change" in the amount of foreign investment since the lib- eralization was announced May 1, says an official of the minis- try of international trade and industry. The United States and others prodded Japan to remove con- trols on foreign investment which had restricted foreign ownership of businesses to 50 psr cent, except in rare cases. One long-run result of the new Oil, real estate stocks up on TSE TORONTO (CP) Prices on the Toronto stock market moved higher in moderate mid- morning trading today. The industrial index, consid- ered the major indicator of market trend, rose .57 to 217.23, base metals .20 to 101.87 and western oils 2.35 to 253.08. Golds slipped .14 to 270.05. Volume by 11 a.m. was 000 shares compared with 000 at the same time Thursday. Advances led declines 126 to 97 with 177 issues unchanged. Oil refining, real estate, mer- chandising and chemical stocks were among gaining market sectors while steel, bank, age and construction and mate- rial issues were lower. Imperial Oil rose to Home Oil A to Moore to Canadian Tire A to and Great Lakes Paper to S26. Molson A fell to Pitts C to TransCanada PipeLines to and Alcan to Lytton was off 10 cents to Dominion Explorers six cents to 52 cents and Chemalloy five cents to Cassiar gained to ?12 and Falcon- bridge Copper V-i to "United Canso was up 12 to and Raijger 1'i to Canadian Homestead lost 15 cents to Nickel declined to and Placer Corp. Vi to On the Canadian Stock Ex- change, MQN Mines rose three cents to 37 cents on a volume of shares traded. NEW YORK (AP) Stock market prices were mixed to- day, reacting somewhat nega- tively, analysts said, to the not unexpected U.S. labor depart- ment announcement of soaring wholesale prices in August. At noon, the Dow Jones aver- age of 30 industrials was down 3.24 at 897.80, but advancing is- sues on the New York Stock'Ex- change held a 625 to 522 lead over losers in moderate trading. The Dow Jones blue chip in- dicator has gained almost 50 points since Aug. 23. Among Canadian issues on the NYSE, Canadian Pacific was up Vt at Dome Mines V4 at 87% and International Nickel at Distillers Seagram lost V-i to and Hudson Bay Mining to 26. MONTREAL (CP1 All sec- tors except banks advanced in light trading on the Montreal stock markets today. Combined volume on the Mon- treal and Canadian stock ex- changes at 11 a.m. was 257.003 shares, compared with 278.700 shares at the same time Thurs- day. Industrials rose 1.70 to 250.10, the composite 1.28 to 230.84, pa- pers 1.11 to 134.36 and utilities 1.11 to 134.36 while banks fell .07 to 268.18. On the Montreal Stock Ex- change, Husky Oil rose to Great Lakes Paper to and Consolidated Bathurst Vz to while Falconbridge Small staff operates 'crown firm Superior Extension policy may be to give Ameri- cans and Canadians more of a chance to share in profits from the Jaoanes-0 "The moves tor complete lib- eralization by Japan are wel- said one American of- ficial, "but there are too many factors to consider now in doing business in Japan." LAND PRICES HIGH For instance, he added, for- eign businessmen in Tokyo are facing high land prices, soaring wages, a labor shortage, pollu- tion, ample capacity by Japa- nese firms and uncertain ex- change rates between the dollar and the yen. Undsr the new investment rules, foreign companies can buy up to 100 per cent of stock in Japanese companies "pro- vided that the investment does not constitute a takeover plotted against the wishes of the com- pany explained one government official. Since 1950, when Japan was opened to foreign investors, about foreign enterprises or joint ventures have been es- j tablished. Liberalization began in 1967 and the latest decisions go much further toward break- ing down traditional barriers, i. Most Ottdin Involvement hiener 2.7SKB. July 10 high- Grain Winnipeg grain WINNIPEG (CP) Rapeseed Dec. higher 2.27A, May July not open. Rye: Oct. 10 higher Dec. 10 higher 2.64B, P..78B, May occurred before 1970. Canadian interests in 57 firms total about S17 million. Total foreign in- vestment amounts too just over Si billion, about 60 psr cent coming from American firms. mid-session on the Winn i p e g Commodity Exchange today. Rapeseed prices ranged from 3% to 121-2 cents higher, a drop from the 20 cents increase in all opening months. MANY JOINT VENTURES Rye remained strong with all Among Canadian joint ven-1 futures 10 cents higher. Flax, tures are: and barley were all slight- er 2.74B. Grain quotes Thursday (basis Close High Flax Oct 890 Nov Dec 851% May 856 Low 890 Tokyo Nickel Co.. established iy higher on fairly active trade. in August, 1365, capitalized at "Thursdav'S volume of trade Nov 529 rnn TTQTI inH 1SUV CARDS OF THANKS CHRISTENSEN" We wish :o thank all our relatives and friends for the many sympathy cards and kindnesses shown us in the passing of our dear brother and brother-in-law, LJoj'd Christensen of Pincher Creek. and Dagmar Minion 9388-8 STICKEL A special thank you to my doctor, nurses and staff of St. Michael's hospital, second floor for the wonderful care given to me while a recent patient there. Many thanks also to all the relatives and friends for the flowers, gifts, cards and visits. Stickel 9369 BURYAN We wish to ex- press our gratitude and sincere thanks to all who graciously assisted during the recent pas- sing of our mother and grand- mother. Thank you also to the doctors and nurse of the third floor of Municipal Hospital. and Mrs. J.S. Buryan and family Mrs. Heln Brinley and Terra 9391 By ROBERT J. COLE New York Times Service OTTAWA H. Anthony Hampson, the soft-spoken cliief executive officer of the Canada Development Corp., talking to businessmen not long ago, re- marked that the staff of the CDC was small 15 in all. "While some expansion will doubtless take place as we grow and he said, "it is our belief that a relatively few good and highly-motivatsd people can accomplish far more than large numbers of routine personnel." Tucked away on the ninth- floor of a small office building in downtown Ottawa, ths tiny offices of the CDC have indeed grown. Today the government- controlled company employs a total of 16 people. Far more important, how- ever, is its high-powered board of 20 men and one woman and the major financial re- sources it has at its disposal. In the first indication of its financial muscle, the CDC rock- ed Wall Street last month with an unexpected million takeover bid for Texasgulf, Inc., the giant mining com- pany. It took full-page ads in lead- ing newspapers and offered to pay U.S. stockholders a share far more than the stock had brought for several years and was prepared to buy up to 10 million shares, or IN MEMORIAM sufficient to give it effective control. The CDC had obtained all but shares of its goal and appeared likely to obtain the Dalance. Whether the company be permitted to consum- mate the venture, however, is still before the courts. Texas- gulf is vigorously fighting what t called an "unfriendly take- over." Within hours of the tender of- fer, Wall Street stock brokers had jammed the telephone lines to the CDC's offices here j to ask a basic question: "Who are j' The question is well put, for the government organization, SCO million yen and owned 40 per cent by International Nickel Co. of Canada Ltd., 50 per cent by Shimura Kako Co., and 10 per cent by Mitsui Bussan Co. (A Canadian dollar is worth about 263 yen.) j Tcppan-Moore Co.. estab- I listed in June, 1965, capitalized at million yen, owned 45 1 per cent by Moore Corp. Ltd., and 55 per cent by Toppan Printing Co. Alcan Aluminium Ltd., set up in 1939 and approved in Octo- ber. 1952, with capitalization of million yen. The Cana- dian firm acquired 50-per-cent interest in Nippon Light Metal Co. in 1952. Isopol Chemical Japan Ltd., owned equally by Isopol Chem- icals Ltd. and Toshoku Co., es- tablished in January, 1969, and capitalized at 13 million yen. Inter-Light Ltd., set up in April, 1972, capitalized at 3.6 million yen, owned by In- tegrated Light Canada Ltd. and ABC Shokai. LIST ENTERPRISES Among 100-per-cent Canadian enterprisss in Japan are: American General Trading Co., set up in January, 1969, capitalized at 15 million yen and owned by Edward and Mor- ris Aboody. International Leisures Co., owned by Josephine Ltd., and established in March, 1970, with capitalization of 10 million yen. International Nickel Ltd., set up in April, 1970, capitalized at 25 million yen and owned by Anglo Canadian Mining and Re- fining Co. In the liberalization policy an- nouncsd May 1, there are 17 in- dustrial areas in which reform implementation will be delayed for three years. FIELDS RESTRICTED These categories are: Com- puter manufacturing, fruit juice processing, manufacturing and wholesaling of apparel, meat processing, ferroalloy produc- tion, pharmaceutical and agri- was bushels of of flax and of I Mar 523 865 869 825 ffii 821 856 Rapeseed Vancouver 526 543 506% 523 i Jan 531 5C4 514 Proposed pipeline extension A proposed extension' of the Interprovincial Pipe Line system, currently car- rying Western Canadian crude oil from Edmonton miles to the area, was announced as part of a new Canadian government package of anti-inflation measures. The proposed Toronto-to- Montreal extension scrap the 1961 oil policy that divided Canada along the Ottawa east area served by imported crude from the Middle East end Venezuela and the west served by domestic crude mainly from Al- berta. Friday, September 7, 1973 THE LETHBRIDGE HERALD Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, McCnalg Limited) (11 Quotes) LAST BID OR SALE (11 e.m. Quotes) (11 a.m. Quotes, WESTERN OILS AND MINES Albany Oils Alta East Gas Alminex Asamera Ashland BP Canada Brenda Mines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charter Chieftan Dome Dynasty Fort Reliance Giant Mascot Granlsle Gt Plains Gt Cdn Oil Lochiel Ex Lytton MIn Noble Mines North. Cdn Oils Numac Pancdn Pan Ocean Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Seibens Spooner Total Pets Ulster Pete West Pete W. Decalta Cygnus A Cygnus B 1.05 Falcon Copper 8.00 f and M Trust 6.70 Genstar 11.50 Global Comm 11.25 Home A Home B 7.20 Hud Bay Co Hod Bay Oil 3.20 Hud Bay A Pfd 7.2S Hugh Russel 7.75 Husky Oil .16 Husky B 55.00 Husk" D War 4.00 Husky E War 11.25 Hys of Canada 3.1.50 Inter Prov Pipe 9.M Inter Pnov Steel .26 Kaiser Res 2.90 Loblaw C Pfd 9.50 Mognasonics 29.75 Pacific Pete 8.10 Pac West Air 2.S5 Pe-Ben Oilfield 2.17 Rainier Inc 1.03 Royal Trust 7 00 Com Cap Corp 18.00 SandWell 14.50 Teledyne 15.37Vi West Cdn. Seed 1.35 Westfield Min .24Vi Weston A Pfd White Yukon 7.75 Amer Gr Fund S.S1 607 7.75 A.G F. Special 2.9! 13.2S Cdn In Fund 3.0? i 58 J.62V4 Co11 Mutual S.84 642 Cmnw Inter 14.62 16.07 44 oo Cmnw Lever 3.84 4.27 Cmnw Ven 7 31 8 03 Corp Investors 6 25 6 87 1775 Cr In St Fund 5.75 5 M in 35 Dreyfus F U.S. 10.92 11-97 w 87iA Gr Pacific i 69 5 13 fl'm Gr 'r Shares 3.42 3.77 Gr Equity 7 71 8 47 In Gr Fund 1513 13.26 o Invest Mutual 5.83 6 43 Mutual Accu 597 457 Mutual Gr Fund 3.68' 405 Ndt Resources 5 00 5 49 8-50 N.W. Cdn N.W. Growth 3-" prin Growth 27.62ft Royfund 7.75 Temp Growth 32.00 United Accu 10.37'A Uni Savings Univest 5.12Vi Vanguard CALGARY 3 20 Acrdl 5.00 Barons Oils 4.10 North Continental 5.50 Western Warner 1.16 VANCOUVER 40.50 MINES 10.37'A Afton 5 66 622 511 562 4.47 4 00 6.72 699 837 9.17 5 20 794 6 05 6.53 5 21 8 73 6 65 716 .SI 04 .01'', .30 PIPE LINE STOCKS W25 Alta Gas A 11.75 Gas Pfd 6900 13.00 Alta Nat Gas 20.00 Inland Nat Gas 1025 N and C Gas 9.10 N and C Pfd 21.75 6.i2Vj Pacific Trans 11 50 6-7i Gaz Metro 425 MISCELLANEOUS Gaz Metro A 64.00 INDUSTRIES Tr Can Pipe Acres Ltd 13.87'r2 Tr Can A Ffd Aquitalne 22.62Vi Tr Can B Pfd 13.75 Tr Can War 2.70 WC Trans 25.00 WC Trans War Atlas Explorations Bathurst Norsemines Dankce Davenport Dolly Varden Equitonal RES. Gibralter Mr.s. Lrrnex P.lmer Pyramid Silver Standard 900 38 76 1 95 .43 .27'3 21 1350 11.50 .OSVj .13 2 W 8 85 28.62'A Valley Copper 55.00 INDUSTRIALS 39-25 Columbia Brewing 365 BC Sugar Pfd 13.75 Tr Can War 6.00 Key Industries 20 Block Bros 2.70 WC Trans 17 87i'3 Wardair 1 tS Cdn Brew A Pfd 25.00 WC Trans War 3.50 OILS Cdn Brew B 29.75 MUTUAL FUNDS Prp Exploratiors Cdn Pocific Inv All Cdn Com 6.99 7.60 Plains Pete .27 Crestbrook Ind 10.25 All Cdn Div 7.40 8 04 Pcr.deray Eypior S7 Crowsnest Ind 28.00 All Cdn Ven 3.70 4 02 St Int'l Res .98 Toronto mines., industrials By Securities of Canada) LAST BID OK SALE rapeseed. Mid-session prices. Flax: Oct. 5 lower 3.95B. Nov. higher 8.76, Dec. 2Va higher 8.64B, May 2 higher 8.58B. Rapeseed Vancouver: Sept. 12 higher 5.55B, Nov. 4 higher 5.27B, Jan. 9 higher 5.23, March higher Rapeseed Thunder Bay: Oct. 4% higher Nov. higher Dec. 10 higher 4.87B, May not open. Oats: Oct. higher 1.4512A, Dec. unch 1.34B, May, July not open. Barley: Oct. 4% higher S03 519 Rapeseed Thunder Bay !0ct 514 515 cultural turing, chemical hydraulic manufac- equipment HOUSE In loving memory not yet two years old, has so of a wonderful husband, Hugh Trevor House, who pass e d away September 7, 1972. Wonderful memories woven in gold, These are the memories we tenderly hold, Deep in our hearts his memory is kept, To love, to cherish never forget. missel by his wife, family and grandchildren. 9390 far maintained a very low pro- file. Although its shares are en- tirely in the hands of the gov- ernment, it does not report to Parliament, does not require ministerial approval and oper- ates independently of govern- ment. Texasgulf is basically a com- pany that buys into other com- panies. It reported profits last year of million. It expects to do even better this year. manufacturing, packaging or packing machinery manufac- turing, medical or measuring instrument production, real es- tate, phonographic record pro- duction, tomato processing, feed manufacturing, making proc- essed food for mass con- sumption, the information proc- essing industry, photographic film manufacturing and in- tegrated circuit manufacturing. In five other areas the new liberalization policy does not apply and the 50-per-cent limit on ownership continues in- definitely or liberalization is allowed only on a case-by-case basis. The five are: Primary in- dustries related to agriculture, forestry and fisheries; mining petroleum; leather products; and retail trade. as company profits set for check EDMONTON (CP) Profits made by a privately owned utilities company that supplies natural gas to much of Alberta are to be reviewed within two months by the province's Pub- lip Utilities Board. The board determines the rate of return of Northern Utilities Co. and uses the fi- gure to determine utility rates based on the cost of service. The city has contended that rates have averaged about 8.6 per cent during the last four years even though the board had fixed the level at 7.5 per cent in 1959. The last review was conduct- ed in 1970. It found rates of 7.72 for 19G6, 7.47 for 1967 and 7.71 for 1968. Company officials said that although the rate of return has been rising, capital costs and borrowing costs have also risen significantly. Nov Dec May Oats Oct 143 Dec 134 May Jly Barley Oct 225 Dec 224 May Jly Rye Oct Dec May Jly SCO 500 142 133 268 254 263% 509 :o9 477 494 143 134 335 135 214 217 268 254 rules IllllS Ol Quotes? (11 Ruores) (11 a.m. Quotesl iolated law 264 Livestock Calgary livestock CALGARY (CP) Receipts to 11 a.m. from the Calgary pub- lic stockyards show sales of about 265 head, mostly feeder cattle. Trade was moderatslv activ. Slaughter cattle sold steady with Thursday's close except for cows which gamed over Thursday's prices. Steers Al and 2.49-50.30. Heif- ers Al and 2 48-49.25. Cows Dl and 2.35-39.70. Good bulls 44- 46.70. Replacements consisted most- ly of heavy feeder steers of me- dium quality. Stock calves on offer sold at steady prices. Good feeder steers 700 pounds 50-55, 600 to 700 pounds 53-57. Good feeder heifers more than GOO pounds 45-50.50, under 600 pounds 48-52.40. Good stock steer calves 400 to 575 pounds 45-65, 300 to 400 pounds 66-77. Good stock bsifer calves more than 400 pounds 48-50.25, under 400 pounds 59-67. No hogs sold fob Calgary to Energy demands may hike sales of utilities stock BIG IDEA MAN! Since 1955, Murray Newman has worked marvels in making the Vancouver Public Aquarium one of the best on the continent. He's a man with big ideas ,is very much the boss, and you can read all about him, this Satur- day in Weekend Magazine. Watch for Ernest Hillen's profile of Murray Newman. IN YOUR LETHBRIDGE HERALD WEEKEND MAGAZINE Hog prices EDMONTON (CP) There were no sales for Monday de- livery to 11 a.m. The Alberta Hog Producers Marketing Board said today. Thursday's average prices: Edmonton 55.77; Red Deer 56.71; Calgary 56.99; Leth- bridgp 55.87; Lloydm i n s t e r 56.10; Fort Macleod 55.85; Grande Prairie nil; Fair-view nil. Total hogs sold Thursday average 5G.04. TORONTO (CP) A grow- ing demand for energy should mean ?ains in sales by elec- tric utilities, but at the same time higher costs may also affect profit margins, Bab- son's says in a recent market letter. The Toronto investment firm says profitability de- pends on a number of factors outside supply and demand- mainly the problems of rising costs and of passing these on to customers. Higher Jabor and materials costs affect not only day-to- day operations but also ex- pansion programs, an impor- tant factor in heavily-popu- lated regions. "In the most industrialized areas of Canada the demand for electricity is growing at such a rate as to require utili- ties to double their depend- able peak capacity about ev- ery 30 years." Fuel costs have risen even more rapidly. Although nu- clear power is cheaper than traditional fuels, costs of plant building are much higher, and extensive use of nuclear power will not be made for some years, Bab- son's says. In the meantime, use of coal, oil and natural gas have become more expensive. Utilities which buy fuel for the generation of electricity are usually covered by long- term contracts, but they are still under considerable pres- sure from suppliers seeking higher prices, Babson's adds. Utilities which buy electric energy from other utilities to supplement generating capac- ity are also facing higher costs. Babson's says earnings im- provements will he primarily the result of rate increases and that there is some evi- dence regulatory agencies are being increasingly sympa- thetic. "As the process of obtaining a rate increase is usually relatively complex and lengthy, rate increases will always lag a few months be- hind cost increases. This time lag will continue to prevent a significant improvement in profit margins. "However, over the longer term, rate increases should allow profits to at least keep pace with increases in reve- nue." NEWARK, N.J. (AP) A federal judge ruled Wednesday that franchising practices by Holiday Inns Inc., the largest United States hotel-motel oper- ation, violates anti-monopoly j laws. i The ruling by District Court j Julge Leonard Garth came in a i suit filed by a franchise appli- I cant who was turned down be- j cause the site of his proposed Holiday Inn was too close to an existing franchise. Such a policy, combined with one that prohibits Holiday Inn owners from owning hotels of other chains, is "a combination and conspiracy" and an "unrea- sonable restraint of Garth said, t The full effect of his ruling was not immediately deter- mined. The franchise applicant, American Motor Inns Inc., asked for damages amounting to three times its losses in the case. Garth in his opinion said further court hearings might be required before he could decide What relief should be granted. MINES I Acme Advocate Asb. i Akaitcho Bralorne Brculan Bethlehem Bovis Brunswick C8T N VI Land Canada iung. Cossiar Central Pat. Chi mo Conwest Cons. Rambler Coin Lake Cochenour Craigmont Dickenson Mines Denison Mines D'Eldona Dome Mines Discovery Mines East Malartlc East Sullivan Falconbridge Frobex First Maritlmes Giant Y.K. Granduc HoIIinger Hudson Bay M-S Hydra Ex. Iron Bay Iso Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langls Silver Madsen R.L. Malartlc G.F. Martin McNeely Maclntyre Meta Midrtm Intern Mogul Nu West Homes Mew Athona New Calumet Noranda Norfhgate Norlex Osisko Pine Point Melton's purchase 2.95 P 10 n so .98 1 05 4.75 330 .15 91 7.70 320 38.37'2 Abitibi .42 Alcan 88.00 1.10 375 2.70 74.75 .30 .65 8.90 3.65 45.00 25.75 .23 3.65 2.07 Cdn. Brew .23 chemcell 12.00 Col Cellulose .31 Calgary Power 43.12V2 Corntion Cred 2.60 CWN Gas Cdn Indus Cdn Marconi Cdn Vlckers Chrysler CPR Cominco Cons Bathurst Cons Gas 8.62V4 Dist Seagrams .14 Dom Bridge .24 Domtar S0.25 Dom Textile 5.75 Dom Stores .28 Dome Pete .24 Dofasco 35.50 Glendale Mobile 27.25 General Motors 2.25 Grt Lakes Paper Grt Cdn Oil 1 20 Gulf Oil Cda Greyhound Hawker Sid Hiram Walker Huron Erie 1.50 Imperial Oil Imasca Int. Nickel Int Pipe Inv Group A Int. Utilities Indust Accept Kans .31 57.25 8.60 395 276 3.CO 3 20 .90 105 Placer Dev. .13 Pax Exp. 1.20 Quebec Man 1.15 Rayrcck 2.05 p.adiore Rio Algom 1A.7S Roman Corp. Sherritt Gordon Steep Rock Tek Corp. Texmont Upper Canada Western Mines w H Cop Mines Wright Hargreavss Wlllroy Windfall .121 i Kelly Douglas A Bear 4.40 Laurentide Zenmac .OSli Loeb INDUSTRIALS Lotlaw A 1275 Metropolitan 33 25 Massey 18 McMillan Bloed 12.75 Moore Corp 6 62Vj Molsons A 6 6Vh Mclsons B 43 87Vj Nachurs 18.25 Northern Cent 50 CO Power Corp 15.75 Price Co. 1975 Rothmans 20.75 St. Lawrence 3450 Shell CDA 15.50 Simpsons 10.00 Simpson Sean 4.40 Steel Canada 4.70 Selkirk A 5.25 Texsco 2325 Traders Grp A 2 15 Trans Mtn Pipe 11.00 Trans Can Pipe Union Caibide 3 85 Union Gas 17.25 Union Oil 26.25 United Siscoa Versatile Mfg. Westeel 26.621A Westons B Woodwards A West Cdn Seed 38.00 Zenith Elec 23 50 BANKS 8.75 Cdn Imperial Algoma Steel Atco Ino. Atlantic Sugor Agra Ind. Bell Tel. Brazilian Trac. B.C. Tel Burns B.C. Forest B C. Suoar Bow Ind cable CAE Ind. 1.11 .95 .28 54.00 .15 .13 13.50 14 50 Montreal 34.62V3 Nova Scotia 28 00 Royal Toronto Dom 64.75 26.00' 8.25 3525 moo 5.25 5475 2853 30 12i 2 33.25 22 87'3 9.25 2550 480 525 11 12 i 5.62'7 17.00 23 121 3 32.75 49.121 i 23.00 2225 1.75 025 1075 15.87i'i 14 00 2025 8.25 1550 62 00 1800 19.00 2875 1675 9.87'i 1550 665 675 21.00 23.00 550 3.20 3003 3500 35.75 33.75 New Yorfc stocks (SnppHed By Richardson Securities of Canada) jina firm EDMONTON (CP) Melton Real Estate Ltd. of Edmonton has purchased Dollard and Gallagher Ltd. of Regina, pres- ident Lloyd Gallagher and Stanley Melton announced to- dav. Melton Real Estate Ltd., with 29 offices and 400 employees in western Canada, is a public real estate company with shares listed on the Vancouver and Toronto Stock Exchanges. In a news release the com- pany said the purchase was part of an expansion program to provide today's highly mo- bile society with housing, of- fice, retail and industrial space. Financial details of the pur- chase were not disclosed. J. R. Sherrin, a director of Melton Real Estate Ltd., has been appointed regional man- ager. Gold futures WINNIPEG (CP) Gold fu- tures, U.S. funds, Winnipeg Commodity Exchange close Thursday. Oct 73 106.70; Jan 74 109.90: Apr 74 113.20A; Jly 74 116.30A; Oct 74 120.40A. Wednesday's volume: 65 con- tracts. Amr T and T Anaconda Beth Steel Comsat Dupont General Motors Gulf Int Harvester Kenn Copper Mont Ward if 75 Sears 22 87Vi X-Ron Texas Gulf 24 00 Texas Co. 51.75 Wix Corp 166.75 Woolwortn 98 12' i 20 Golds 27003 off .16 10 Base 102 31 up 64 24 25 15 W Oils 252.95 up 2.20 29.75 Volume 22.62ViNEW YORK AVERAGES 64 Westinghouse Elec 33 50 2O Indust off 3.14 22.25 U.S. Steel 30.00 20 Rails 16243 U.C. 32.62Vj Gen Tel Elec 29.42'A IS Utilities 99.88 up .22 32.62'A TORONTO AVERAGES 65 Stocks 273 K> oft .49 24.50 20 Indust 216.78 up .12 Volume Beef Futures WINNIPEG (CP) Live beef futures close Thursday. Sept 50.50A; Nov 51.45A; Jan M 15B; Mar 52.00N. Wednesday's volume: Eight contracts. SMELTER PRODUCTION WORKERS Required by ALCAN KITIMAT, B.C. DUTIES: Working in a crew on shift performing manual labor including the operation of mobile equip- ment relating 1o smelter production. On the job train- ing will be provided. Rate is psr hour currently under renegotiation. Shift premiums per hour are 12c afternoons, 15c nights, 60c Sunday, medical insurance, pension plan, sickness and accident benefits are available. Applicants must be able to pass a medical examina- tion by a company doctor in Kitimaf. Suitable applicants will be interviewed at the Can- ada Manpower Centre in Calgary on the IHh, 12th and 13th of September. As relocation assistance is available only those ap- plicants with good work histories will be accepted. Persons Interested In steady work away from city pressures and close to good outdoor activities can ar- range for an interview by contacting their local Can-' ada Manpower Centre.