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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 10, 1973, Lethbridge, Alberta 6 THE LETHBRIDGE HERALD Monday, September 10, 1973 The Herald Business ______________________> Fractional drop in TSE prices TORONTO (CP) Prices on the Toronto stock market were fractionally lower in moderate m i d m o r n i n g trading today The industrial index, consid- ered the best gauge of market direction, fell 25 to 216.79. and base metals 01 to 102.84 Golds rose 1.54 10 273.32 and western oils 72 to 255 30 Volume by 11am was 609.- 000 shares compared with 650.000 at the same time Friday Advances edged declines 118to-116 with 186 issues un- changed Pipeline, steel, bank and oil refining stocks were among sectors ot the market to decline while paper and forest, real estate, construc- tion and material and com- munications issues gained Alberta Natural as fell 'j to S19'2, Westmills Carpets to So. Bank of Nova Scotia :ts to S34Ts, Toronto Dominion Bank !s to and IU Inter- national to Western Realty rose lt to Bow Valley''j to B C Forest to On the Montreal Stock Ex- change. Imperial Oil tell 38 to Chrysler 'i to and Canadian Imperial Bank of Commerce 't, to while MacMillan Bloeuel climbed '2 to Canadian Javelin to and Aquitame Co. of Canada to S227h On the Canadian Stock Ex- change. Cuvier Mines was un- changed at 10 on a volume of 25.300 shares traded and NQN Mines rose three cents to 40 cents on a volume of 10.- 500 shares traded. World inflation Stocks Miscellaneous Vancouver, Calgary, Montreal grim MacMiIlan Bloedel '2 to and Husky to i Akaitcho Yeliowkmfe lost seven cents to 1 15. Whitehorse five cents to and five cents to S3 50 Teck Corp B gained 10 cents to S4 and Lytton seven cents to 15 Sunmngdale climbed 60 cents to Decca 30 cents to SB 25 and Canada Northwest 25 cents to 75 MONTREAL (CP) Prices were mixed in light trading on the Montreal stock market to- dav Combined volume on the Montreal and Canadian stock exchanges at 11 a m was 300 shares compared with 257.000 shares at the same time Fridav Papers advanced 1 13 to 137 80. industrials 26 to 250 19 and the composite 16 to 230 85 while banks fell 13 to 268 10 and utilities 05 to 142 36 Millions of shares wiped off SYDNEY Australia Hundreds of millions of dollars were ipwed off the paper value of Australian in- dustrial and mining shares on thestokmmakeets oday Prices were marked down following the government's announcement Sunday revalu- ing the Australian dollar by five per cent, making it worth 1875 United States dollars, and increasing interest rates. The program is designed to reduce spending money and halt or slow inflation The country's biggest com- pany. Broken Hill Propnetory Co. Ltd saw its shares down 72 Australian cents u.s (from Friday Other leaders, especially in the mining field, also tumbled Dollar value1 MONTREAL dollar in terms of Canadian funds at noon Monday was up 350 at SLOG 19-25 Pound sterl- ing was down 41-100 at 19-50 In New York the Canadian dollar was down 3-50 at 9- 50 Pound sterling was down 1120 at 2-5. WASHINGTON (AP) The International Monetary Fund drew a grim picture of world inflation Sunday, saying economic conditions in in- dustrial countries point to rapidly-rising prices this year cind nest The fund said in its annual report that the major world economies are booming and will continue to do so in 1974. making it difficult to arrest the inflationary spiral. It urged its 126 member countries, and especially the industrial econommies. "to give this problem a very high priority in the formulation and conduct of economic policies "The paramount con- siderations of course, are that high rates of inflation im- pair economic performance and create economic and social inequities, currently altecting populations throughout the world. the hind said. The report said prices in Canada, the United States, Europe and Japan rose six per cent irom the second half ot 1972 to the first half of this e a r Combined, these economies grew by seven per cent in the same period, it said Countries now face the challenge of slowing down ec- nomic growth without starting a recession, the lund said The report appeared pessimistic on whether infla- tion can be brought under rein "The problem of controlling and reducing price inflation in the industrial obvious and important by no means easy to resolve." it said Besides cooling off their economies through use of their federal budgetrs and control of monev and credit, countries should supplement these anti-inflation tools with wage-price controls or other policies affecting incomes, the tund said The report said that it is not 0 n I the international economic boom that caused the big spurt in inflation. One 01 the reasons was the U.S decision to drop mandatory wage-price controls in January and go to a largely voluntgary system it said. SMOKERS WARNED LONDON tCPi Packages nl cuuicilcs sold here1 next MMI contain government .idvicc smokers 'Le.ive .1 lont; stub Remove Irom mmith between pulls Inhale less T.iko fowei puffs The ilnvrinincnt w.irmng now on l.ibcK had little ellcct .is sales risen nr.irk pei cent in the l.isl MILLION AT STAKE IN GOF'T SCHEME IRVING C. WHYNOT CP Business Editor TORONTO the manufacturing industry booming, are new jobs being created and price increases moderated9 Or are the com- panies just making more profit'' Its a million question tot the Canadian manufactur- ing industry and a political problem lor the minority Liberal government in Ottawa granted the industry extra tax cuts and fast writeoffs in May. with a promise to report to Parlia- ment In the end oi next March on whether they have achiev- ed their jobs and smaller price jumps Ottawa now has started the statistical collection of in- formatioa to determine the results The NDP. which op- poses handouts to business and which holds the balance of power m the House, will be watching the results with special interest With million or more a in government benefits at stake, the manufacturers are naturally concerned about their image RELEASES ITS STUDY The Canadian Manufac- turers' Association (CMA) has just issued a detailed study on profit levels 'Profit margins are still be- iow the level of a decade ago. the association says The association's study is primarily a rebuttal of statements in an earlier ex- amination by the C. D. Howe Research Institute of Montreal, a privatelvfunded economics research or- ganization The Howe Institute reported a "dramatic" recovery in cor- poration profits "Corporate profits have re- bounded so dramatically in the past two years that Cana- Winnipeg grain prices FOR SALE SHOPPING CENTRE IN LETHBRIDGE ALBERTA 18 STORES 651 PARKING STALLS SITE AREA: acres RETAIL SPACE: sq. ft. Office 482-6060 For more information call Heinz Nieman Home 482-5219 M RealtX Projects Ltd. No. 504, 10408 124 Street' Edmonton, Alta. WINNIPEG (CP) -Prices were lirm in moderate trade at mid-session today on the Winnipeg Commodity Ex- change Flax prices were unchanged to slightly lower, while rapeseed prices registered modest gains Oats was unchanged, while barley edged lower and rye advanced about seven cents. Friday's volume of trade was bushels of flax, 292 000 ol rye and LB04.000 oi rapeseed Mid-session prices. Flax Oct. unchanged. Nov. I'.; lower. 9 12B. Dec 4' i lower. 897B, Mav 4 lower 8 92B Rapeseed Vancouver. Sept 15 higher, 5.78A; Nov 5 higher. 548. Jan. 6 higher. 5 40. Mar. 2 higher, 5 41 A. Rapeseed Thunder Bay Oct 3 higher. 5.32, Nov.' 5 higher. 5.34B, Dec 7 higher, 04B. May not open Barley Oct lower, 2 28; Dec 2'j lower, 2 May 4 lower. 2 I7A. July nol open dian manufacturers now are earning higher rates of return than their American com- petitors the Howe studv said PROFITS IMPROVING Canadian manufacturing profits have been in a state of smce the tecession ot 1970 when thev fell 24 per cent the first quarter of 1973. after-tax profits were about 87 per cent ahead of those in the depressed first quarter oi 1970 As a percentage oi sales, net profit was 3 5 pei cent in the first quarter of 1970 and 4.6 pei cent in the corresponding period this year The 1973 first-quarter figures do not reflect the full impact of the tax concessions so some analysts suggest the true profit figure was at least five per cent. These efforts of the government are aimed at m- sulating the Canadian economy and consumer from the effects of worldwide infla- tion and shortage oi some goods That's a verv difficult thing to do m a country that is in such large proportion dependent on foreign sales." Mr. Frechette said While frowning on artificial trade barriers erected bv Can- ada or any other country, he said the CMA floes iavr el torts to use more ol Canada s raw re.souices for manufacturing in this country rather than ex- porting them, to create more lobs. This- would also enable Canada to increase its exports of manufactured goods "The real key to the thing is lobs We still have a substan- tial proportion oi the labor force who are not usefully em- ploved WORKS ON BROAD FRONT The CMA. worked to en- courage Canadian exports "on a pretU broad tront" with meetings. reports, background material and educational courses in methods and techniques of selling abroad 'But all the marketing help in the world is not going to count lor very much il the business climate is un- favorable and manufacturers cannot be competitive abroad in price and design." Mr Frechette said in a recent ar- ticle in the Federal industry- department's magazine. Canada Commerce It's been a highly successful year for the broad spectrum of export in- dustries." he said ol the record 1973 Canadian export figures Canadians could do better at Irving to increase sales in Latin American and Eastern Kurope. where differing political sometimes Inghtened oil this country's exporters The CMA works with a num- ber of international organ- izations to help Canadian busi- nessmen deal with foreign countries The groups include the Organization for Economic Cooperation and Development, the Inter- national Labor Organization, the International Organ- ization ol Employers and the Pacific Basin Council. "Within these and the other international organizations with which we are associated, the CMA is constantly trying to reduce the obstacles and frictions which impede trade bct.veen (he nations of the world." Mr Frechette said Ready for shredder A quick one-way trip to a baler or shredder is in store for some 400 of these auto hulks now resting quietly under the Southern Alberta sun at Mar- shall Auto Wreckers Ltd. According to city hall six acres at the southeast end of the wrecking yard have to be cleared this month so the city can start dumping fill for the parking lot to be developed in conjuction with the Woodwards department store com- plex. Dealers display 574 automobiles (Supplied by Ooherty, McQuaig WESTERN OILS AND MINES Albany Oils Alta East 05 of Canada Inter Prov Pipe Inter Prov Steel Kaiser 850 1275 3 15 C 50 Asamera 50 11 62' 32 75 B P Canada Brenda Mines Can South Cdn Ex Gas Cdn 720 520 340 West Air Pc-Ben Oilfield Rainier Inc Royal Trust 5 124 24.75 5 00 Cdn Ind Gas Oil Cdn Long Is Cdn Super Charter Oils .16 54 75 400 11 West Cdn Seed Westfield Weston A Pfd White 10 550 1 20 6050 10 50 Dome Pete Dynasty Fort Reliance Giant 950 26 LINE STOCKS Alta East Gas 11 87 Alta Gas Pfd 69 00 Alta Nat Gas 13 Granisle Gt Plains Gt Cdn Oil 3000 Nat Gas N and C Gas N and C B 9 62 50 Lytton Noble Mines North Cdn Oils Numac Pancdn Pete Pan 10 700 1837'? Metro Trans Can Pipe Tr Can A Ptd Tran Can B Pfd Tr Can 2900 5700 3950 600 Trans Place Ranger Scurry Oils N W 01 "2 Spooner Total 00 Westcoast Pete W Explor Bath 78 05 INDUSTRIES Acres Ltd Aquitame B C Sugar Ptd Block Bros Com Cap 2275 14 25 265 Dolly Vard Equitorial Res Gibraltar Lornex 27 .20 1200 09 Cdn Brew A Pfd Cdn Brew B Pfd Cdn Pacific Inv Crestbrook Ind Crowsnest Ind Falcon 2950 3025 1087'? 2775 Silv Stand Valley Copper INDUSTRIALS Colum Brew 2 14 885 395 1 95 F and M Genstar Global Explor Plains .27 Home A Home B Hud Bay Co Hud Bay Oil Hud Bay Oil Pfd Hugh Russell Husky Oil Husky B Pfd Husky D War Husky E 45 50 17 75 51 00 57. 87', 51 50 2625 42 00 950 11 Explor All Cdn Com All Cdn Div All Cdn Ven Amer Grow F AGF Spec Cdn Invest F Collec Mot Common Int Corn 760 740 804 372 404 551 605 292 510 560 585 642 1463 1608 386 424 By RICHARD ANCO Canadian Press Staff Writer Consumerism is alive and well. Canada's automakers are discovering as 1974 models go on display at dealers across the country. Brand loyalty in cars and trucks is deteriorating, as it is tor all manufacturers, says an official of Ford Motor Co. of Canada Ltd It may have taken little Motors (Canada) Ltd. to prove the point to the Big General Motors and Chrysler With introduction of its 1972 ears American Motors added a 'buyer protection plan" that included a guarantee over 12 months or 12.000 miles of no- cost repairs for any fault attributed to the company There was also a second-year optional owners warranty for a small charge. 'The buyer protection plan was the largest single contrib- uting (actor in AMC's sales in- crease President William Picket! says American Motors in the 1973 model year ended Aug 20 lifted its share of North American car sales in Canada to 3 6 per cent from 2 9 in 1972. SICK OF PROMISES Ford of Canada, after what it calls 12 months of intensive indepth research in Canada, has concluded that the buying public is sick and tired of cor- porate promises. The "con- sumerism phenomenon" had exposed a big gap between what customers expected and the service they actually got. Larry Johnson, Ford's na- tional service manager, an- nounced an extensive updating of the compan) 's dealer ser- vice network at a preview showing of 1974 models "More and more people are shopping around for value and tor he said. "This puts the whole marketplace, including the automotive market, up for grabs "Quitefrankly. I believe that the manufacturer who solves the .service dilemma in the "70s could own the markets of the 70s D. Baker. General Mo- tors of Canada president, noted at a preview of his com- pany's new cars that a greater proportion of young people have become buyers. DO THINGS DIFFERENTLY 'The-new generation of car buyers think, act. dress and experience things differently. They have different ex- Toronto mines, industrials (Supplied by Richardson Securities of Canada) pectations of a car They have different standards of beheveability in advertising." Many of them, he said, have a vastly improved knowledge about such things as wheelbase, horsepower, bore and stroke or other vehicle specifications. Mr Johnson labels the No. 1 customer demand of today as "Fix my car That translates into satisfactory repairs, value received on service dollar spent, convenient ser- vice and courteous treatment. It seems to have been the in- tention of American Motors, ranked 69th in the Financial Post's list of 100 largest com- panies in Canada in terms of total dollar sales. FORD TOPS LIST Ford of Canada is first on the list, GM second and Chrysler Canada fifth. Mr Johnson says business- men must learn this is an age of you lirst realize that the guy who writes the TV commer- cials for banks is not the same one who grants the loan." It has created the gap be- tween expectations and per- formance and spun off the consumerism movement Too often, he observes, busi- nessmen react to con- sumerism by either a traditional head-insand approach or by blaming con- sumer activism on social quacks, dewey-eyed reticians or anti-materialists. Egg prices EDMONTON (CP) Week- ly egg and poultry report issued by the federal agriculture department- To producers- A large 67 A medium 65: A small 46 B 44- C 10. cracks 24. To retailers A large 79: A medium 77. A small 58 to 62. (three cents extra in cartons) To consumers (in A large 88: A medium 85 to 86- A small 65 to 66 Poultry To producers- Live No. 1 chicken Broilers. 35 6 and over. 38 5 and under 6, 33- fowl Under 4. 10 to 12 turkey Under 12. 42; 12 to 18. 44: over 18. 44: live No 2 chicken 6 and over. 34 >z 5 and tinder 6. 30: turkey Under 12 to 18. 41, over 18 42 MINES Acme Advocate 1 Sugar Bow Valley Ind Cable Ind Brew Broulan Bethlehem Bovis Brunswick Can N W Land Canada 14 75 205 4 90 860 Col Cellulose Calgary Power Corntion Cred CWN Gas Pfd Cdn Indus Cassiar Central Pat Chimo 75 98 1.05 4 Marconi Cdn Vickers Chrysler CPR Cons Rambler Com Lake Cochenour Craigmont Dickenson Mines Denison Mines D Eldona Domes Mines East Malartic East Sullivan Falconbncige Frobex First Maritimes Giant Y K Granduc Hollmger Hudson Bay M-S Hydra Ex Iron 15 91 7.70 335 3850 41 1 10 375 278 74 00 31 65 885 365 4525 2625 22 Cons Bathurst Cons Pas Dist Seagrams Dom Bridge Domtar Dom Textile Dom Stores Dome Pete Dofasco Glendale Mobile Grt Cdn Oil Sands General Motors Great Lakes Paper Gulf Oil Cda Greyhound Lines Hawker Sid Hiram Walker Huron Erie Iso Joliet Oil Imasca Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R 31 4325 261 05 1 Nickel Int Pipe Int Pipe Inv Group A Indus) Accept Malartic G F Martin McNeely 27 Kelly Douglas A Laurentide Loeb Meta A Intern Mogul Nu West Homes New Calumet Norands Northgate 850 24 5075 575 Massey Ferg McMillan Bloed Moore Corp Molsons A Molsons B Pine Point Placer Dev Pax Exp Quebec Man Rayrock Radiore Rio Algom Roman Corp Roman Coip Sherritt Gordon Steep Rock Tek Corp Texrnont Upper Canada United Canso Western Mines W H Cop Mines Wright Hargreaves Willroy Yeliowkmfe 3550 2725 231 13'; 1 21 31 2675 855 855 1562'? 1 48 400 22'? 275 1550 300 295 90 1 06 Cent Power Corp Price Co Price Cc Rothmans Rothmans St Lawr Corp Shell CDA Simpsons Simpson Sears Steel Canada Selkirk A Texaco Traders Group A Trans Mtn Pipe Trans Can Pipe Union Carbide Union Gas Union Oil United Siscoe Versatile Mfg QIPTES Abitibi oo f) B Woodwards A West Cdn Seed Algoma Steel Atco Ind Atlantic Sugar Agra Ind Bell J I d. 1862V? 1287'j 662''? 11 Elec BANKS Cdn Imperial Montreal Nova Scotia Burns BC 21 Toronto-Dom 2075 3600 1550 1000 450 470 537V, 2325 2 15 11 00 1500 385 1725 31 75 27.87 Vi 15.62% 40 3800 2375 887% 1425 34 87% 2812% 825 8 10 6487% 27.00 3625 18 00 525 5462V? 2750 45 12% 3025 33 12% 22 87% 2287'? 925 1650 480 525 11 12% 425 562'? 1600 23 33 12% 49 2300 2225 800 925 11 12% 11 12% 1625 1400 1400 20 12% 20.37% 8.12% 1075 3000 1550 6275 1800 18.75 29.25 1675 9 87% 1525 660 675 1600 21 00 2300 550 3 15 3000 1862% 3487% 35 87% 3350 I Dr. and Mrs. Kuipers I HOME FOR SALE 3602 South Parkside Drive York (Supplied b> Richardson Securities of Canada) Amr T-T Anaconda Beth Steel Chrysler Comsat Dupont General Motors Gulf Inl Harvester Konn Copper Montgomery Ward Soars X-Ron Texas Gull Texas Co Wiv Corporation Woolworlh 4975 22 75 2750 2375 5050 168 75 64 50 21 87' 32 75 3300 24 12' 96 12' 8762' 24 25 2937' 17 2287' West Elec U S Steel Gen Tele 3337' 30 12' 2925 TORONTO AVERAGES 1 Indus 216 79 down 25 20 Golds 273 32 up 1 54 10 Base Met 10284 down 01 15 W Oils 25530 up 72 Volume 609.000 NEW YORK AVERAGES 30 Indus 89848 down 15 20 Rails 16295 up 07 15 Utilities 10087 up 03 65 Stocks 274 35 up 01 Volume 3 400 000 4 000 square feet including mrioo >r pool 4 bedrooms, 2'? bath- ;