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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 12, 1973, Lethbridge, Alberta The Herald" Business Prices down in light trade TORONTO (CP) Prices on the Toronto stock market moved fractionally lower in light mid-morning trading to- day. Ford car price hike approved WASHINGTON (AP) -The United States government gave Ford Motor Co. approval Monday to raise prices on some 1974 car models even more than was announced last week. A cost-of-living council spokesman said the council sent Ford a letter approving a decision to'make some equipment, that formerly was optional, standard on 1974 models. The spokesman argued against concluding that the changes constitute an increase in price, saying the formerly optional equipment will cost about 20-per-cent less when made standard. However, the spokesman acknowledged that the move will increase prices to customers who otherwise would have decided against buying the optional equipment. The council approved on Friday an average .increase of per model for Ford to offset the cost of government- mandated safety and en- vironmental features But there was no announce- ment that the council also was sanctioning price increases to reflect the standardizing of formerly optional equipment. When asked about this Mon- day, the spokesman could not say how much ol an additional increase these changes would bring or exactly what changes were involved The Wall Street Journal re- ported the increase amounted to per car. which, when combined with the increase for safety and environmental features, would mean an over- all increase of about per model, or approximately three per cent. However, the features will not be obtainable on all models They were reported to include carpeting, conceal- ed windshield wipers and cer- tain exterior and interior lux- ury improvements It was not known whether the other three auto-makers would make similar moves to standardize formerly optional equipment. The industrial index, consid- ered the major indicator of market trend, fell .13 to 215.96, golds 1.17 to 269.78. base metals .23 to 101.91 and western oils .91 to 252.94. Volume by 11 a.m. was 000 shares compared with at the same time Tuesday. Advances were slightly ahead of declines, 113 to 95, with 164 issues unchanged. Construction and material, real estate, communication and utility stocks were among declining market sectors while paper and forest, steel, beverage and bank issues were higher. Acklands fell Vz to Vi, Bell Canada to Algoma Steel to and CP Ltd. to MacMillan Bloedel rose to Crestbrook Forest to v4, Pacific Western to NuWest Development ''-i to and Shell Canada lk to Kerr Addison lost Vs to East Sullivan eight cents to and Chemalloy five cents to Denison gained to and Roman Corp. 15 cents to United Canso was off Vs to and Decca cents to Peyto climbed 15 cents to and Scurry-Rainbow to MONTREAL (CP) Prices were mixed in light trading on the Montreal stock market to- day. Combined volume on the Montreal and Canadian stock exchanges at 11 a.m. was 000 shares, compared with 219.100 shares at the same time Tuesday. Utilities fell .84 to 140.49, the composite .20 to 229.27 and industrials .13 to 248.19 while banks climbed .67 to 270 29 and papers 1.20 to 138.97 On the Montreal Stock Ex- change, Denison Mines rose I31 to Canadian Cellulose to and Bank of Nova Scotia to while Alcan fell to Bell Canada 172 to and Placer Corp. Vs to "2. On the Canadian Stock Ex- change, Cuvier Mines was un- changed at on a volume of shares traded. NEW YORK (API Concern over rising interest rates and tighter money push- ed stock market prices lower today. The Dow Jones average of 30 industrials at noon was down 4.59 to 881.17, after a 13- point drop over the previous two trading sessions. Declines led advances on the New York Stock Exchange by 4-to-3. Arabia dissatisfied with share of concerns New York Times Service BEIRUT, Lebanon Re- cent action giving Iran and Libya majority control in oil companies operating there has made Saudi Arabia dis- satisfied with her 25 per cent participation in American oil concerns in that nation, ac- cording to a highly placed oil source The change of attitude by Saudi Arabia, the world's largest oil exporter, has been foreshadowed by the decision of Kuwait, another major Per- sian Gulf producer, to reject as insufficient the 25 per cent share of ownership offered by the western companies. This suggests that the major western oil companies are facing a significant escalation of demand for control over oil resources by Arab governments that only a year ago settled for 25 per cent par- ticipation, rising to a 51 per cent majority control only in 1982. In addition, the western companies are now being pressed sharply to raise the prices agreed upon last December at which they would purchase most of the host country's 25 per cent share of oil produced under the participation agreements. Ahmed Zaki Yamani. Saudi Arabia's minister of petroleum, will be in New York this week for a conference on buy-back price increases with the American oil companies that are partners in the Arabian- American Oil Co. Yamani negotiated last year the participation agreement for Saudi Arabia, as well as for Kuwait, Abu Dhabi. Qatar and Iraq. Subsequently, the agree- ment was ratified and applied by Saudi Arabia, Abu Dhabi and Qatar, but Kuwait has not been able to obtain the approval of its national assembly for the deal in its present form, and Iraq has not implemented the agreement in the Basra holding of the Iraq Petroleum Co., a western oil company consortium. Wednesday, September 12, 1973 THE LETHBRiDGE HERALD 23 Stocks Toronto industrials CANADIAN IMPERIAL BANK OF COMMERCE China medical system lauded MONCTON, N.B. (CP) Dr. Peter J. Banks, of Vic- toria, president of the Cana- dian Medical Association, said Tuesday he was impress- ed by the Chinese approach to the medical profession and believed that a similar system would be beneficial in Canada. Dr. Banks told the New Brunswick Medical Society the Chinese physicians place working for themselves, their families and their standard of living last in a system of priorities headed by working for their patients and the ideal of the new China. A member of a group of phy- sicians who recently toured China. Dr. Banks said he was impressed by the country's enthusiasm of working for an ideal and not for material re- ward. He told the annual meeting of the provincial association he had also been impressed by physical fitness standards in China and the methods of achieving such standards, par- ticularly in schools. He said children in China are happier than those in Canada because they know what they have to do and are disciplined to do it In Canada, "we teach our children that they have rights and not duties." A minimum of five acu- puncture clinics could be set up in Canada, each with two Chinese accupuncturists working with their Western counterparts to ensure proper evaluation of the treatment under controlled conditions. "The worst thing that could happen in Canada is that acu- puncture should fall into the hands of Charlatans who would have ample oppor- tunity to enrich themselves at the cost of turning their patients into pin cushions." Electrical group advised to meet escalating costs PARK TILFORD APPOINTMENT Mr H D Ryan, National Sales Manager of Park Tilford Distilleries Lid ,is pleased toan nounceiheappointmentof Mr B A Nelson as General Sales Manager for Western Canada Mr Nelson, who has many years of sales experience with the company, will be respons- ible for directing and co- ordinating the sales of Park Tilford liquors and Henkes brand liqueurs in British Columbia, Alberta, Saskat- chewan, Manitoba, the Yukon and Northwest Territories. PARK IAI 9 j i. B.A NELSON HALIFAX (CPi The president of the Canadian Electrical Association acknowledges concern for the "energy crisis" in North America but contends that utilities and manufacturers must first direct themselves to the inflationary trend of the economy. Kenneth W. McGrail of Halifax told an association meeting that every effort must be made to meet the es- calating costs which con- sumers must ultimately bear. The general public had to be assured that electrical utilities are fully prepared to meet their obligations for TV cigar ad ban approved WASHINGTON (Reuter) The House of Representatives has completed United States congressional action on a measure banning television advertising of little cigars The House sent the bill to President Nixon for his signa- ture. The measure would prohibit advertising of little cigars, roughly the size of cigarettes, over radio and television within 30 days after Nixon signs the legislation H. R. Gross (Rep. Iowa) said that beer, which might be injurious in large quantities, is still advertised on TV. He complained there is too much regulation of the in- dividual and fears that Congress might even find that women's sandals, snuff and even contraceptives might be injurious to health. Cigarettes are already banned from TV commer- cials, but the little cigars, which resemble cigarettes ex- cept that (hoy are rolled in tobacco, have been ad- vertised. sustaining the constant im- provement in working and liv- ing conditions. "Simultaneously, the Cana- dian Electrical Association must share the concerns of sincere individuals and groups who are troubled about the quality of living, ecological balances and the deleterious effects of pollution." Mr. McGrail. who is vice- president and assistant general manager of Nova Scotia Power Corp., said it appears that some people have a poor opinion of utilities and do so because they are un- aware of "our efforts to protect the environment." He expressed regrets that some individuals and groups "are convinced that any prog- ress by the electrical industry automatically spells the upset ol ecological balances." "No one can be more con- sciously aware than those who must daily see, monitor and measure the world around Mr. McGrail said. While the terms "ecology" and "environment" had mov- ed into the public usage in the last 10 to 12 years, they have been part of utilities vocabulary for decades, he said I'tilities have been respon- sible for millions of dollars in pollution control equipment and for choosing the "least obtrusive route" for transmis- sion lines. "We are responsible for pre- paring the conditions which will exist years from now and we must give consideration to the costs that must be pass- ed along to consumers or the p u b 11 c treasury." Mr. McGrail said. "Without doubt, we have a most difficult responsibility." Heel CuIn res WINNIPEG (CP) Live beef futures close Tuesday. Sept 51 40A. Nov 51.85A. Jan 51 75A: Mar 51.0013. Monday's volume: Two contracts Everything is peachy Teams of workers line conveyors belts as they sort peaches at a process- ing plant in the St. Catharines, Ont., area, in the heart of Ontario's fruit belt. The peach crop this year is expected to reach normal levels, after a poor crop the year before. Standard Oil agrees to demand LOS ANGELES (AP) Standard Oil Co. of California has agreed to a demand by Jewish organizations that it distribute its clarified stance on the Mideast situation to the firm's stockholder and employees. Standard officials said Mon- day the revised statements are being mailed to stockholders with quarterly dividend checks. The San Francisco-based oil company drew criticism from Jewish groups when it sent a letter to stockholders and em- ployees urging them to sup- port "the aspirations of the Arab people." Jewish groups organized a boycott of Standard products to protest the letter, and they succeeded in persuading more than 4.000 Standard customers to tear up their Standard credit cards. The second letter is a copy of an Aug. 6 letter from Stan- dard board Chairman Otto Miller to Richard Kaplan, president of the Jewish Com- munity Relations Council of San Francisco. In a letter. Miller denied that Standard advocated es- tablishment of peace in the Middle East "without regard to the existence of Israel or its legitimate interests." A Standard spokesman said that the letter was written to "clarify and dispel any con- cern" about Standard's Mid- dle East position. Alberta solution outlined EDMONTON (CP) Four ways to help people on fixed or limited incomes meet ris- ing food costs were outlined today by Bob Dowling, Alber- ta's minister of consumer af- fairs. The province's four-pronged program was presented to the federal food prices review board, which is meeting in Ot- tawa with consumer group and government represen- tatives. Mr. Dowling said Alberta asked provincial-governments to review existing limits on earnings by welfare recipients a move which would assist people receiving social allowances to supplement their food budgets. The province also called for increased vegetable produc- tion in Canada, a comprehen- sive program in nutrition education and nation-wide ex- pansion of food-at-school programs for elementary school children (Supplied Richardson Securities of Canada 1 1 Tel 40 25 Trac 40 25 1 Acme 12 Advocate Asb 1 35 Tel 50 00 Burns 1550 Akaitcho Forest 21 75 M Bralorne 1 Sugar 20 75 iipVI jf Broulan Valley Ind 35 75 J Bethlehem 1500 f m 1 Bovis 2 Ind 1012'; 1 Bruribwick 4 Brew 4 60 f Can NW Land 8 J Canada Tung 2 e'oo j i Cassiar Power 23 00 _dMHu 1 Central Pat Cred 2 20 1 Chtrno 1 Gas 10 75 1 Conwest 4 Indus 15 25 1 Cons Rambler 3 Marconi 3 75 1 Com Lake Vickers 16 75 Cochenour .71 Ciaigmont 7 BHmHa Dickenson Mines nro T? 75 vCMBHiH I Denison Mines Batnuist 26.87'? Curby R. Klaibert 1 D Eidona 1 Domes Mines 87 50 1 Discovery Mines 1.02 1 East Malartic 3 Seagrams 41 25 The appointment of Curby R. Dom Bridge 37 75 Klaibert as Agricultural Officer Domtar 2325 is announced bv Frank S. 1 Esst Sullivsn 2.70 I Falconbridge 73 00 1 Frobex .31 1 First IVIaritimes Textile 862'? Duncanson, Vice-President and 34 II Regional General Manager Dofasco 28 00 Canadian Imperial Bank of 1 Giant Y K 8 Mobile 9 oo Commerce, Alberta Region. j Granduc 3 55 j Hollmger 45.25 1 Hudson Bay M-S 26.37'j Hydra Ex Cdn Oil 8 25 Mr. Klaibert a native of the Gen Motors 6525 MedicineHatdistrictof Alberta, GU.. ONecdaaPer i ?s graduated from the University 1 Iron Bay 3 18 25 Saskatchewan in 1967 with a 1 Iso 2 07 'Joliet Quebec .22 1 Kerr Addison 11 50 I Key Anacon Sid 5 75 B.Sc. in agriculture and is work-Hi'-am Walk 54 75 ing towards his Masters degree Huron Erl? 2825 through that University. Since 1 Labrador 3012'? graduation he has gained con- I Lake Shore 2 61 I Langis Silver 3275? siderable experience in his nt Pipe 22 62' j chosen field as an instructor in 1 Madsen R L 1 03 Malartic F F 95 1 Martin McNeely 23 I Maclntyre Group A 925 the Department of Animal nt 24 Science of Vermilion College ndust Accept 168.? and workjng with agri-business 1 Meta OO All, 4. Keily Doug A 5 25 ln AlDerta. Midrim 1100 The Commerce was the first Intern Mogul 13 00 Nu West Homes 8 4 35 Canadian bank to establish an New Athona 14 New Calumet 24 Noranda 51 00 Northqate 5 55 Norlex 30 3 Osisko 1600 Agricultural Department and Massev Ferg 23 00 Mr_ Klaibert's appointment is Moore so oo a continuation of the Bank's Moisons A 22 75 program to provide specialized Moisons B 2212', service in this area. Mr. Klaibert Pine Point 35 812'? win be located in the Bank's Placer Dev Corp 1075 Regional Office in Calgary. Pax Exp 2.20 Quebec Man Co 16 75 Rothmans 14 12'; Rayrock 1 18 Radiore Rio Algom CDA 20 au t Roman Corp 910 Sherntt Gordon 1562'? Steep Rock 1 o 12 Simp Sears 1112'? Steel Canada 2987'? %V I tl H I D Tek Corp 4 10 I TGxmont 22' A 1600 Texaco 61 25 Upper Canada 2.79 United Canso 14.87' z Western Mines 3 Group A 1837'; rv Trans Mtn Pipe 1775 fii 1 dill Trans Can Pipe 29 50 W H Cop Mines 2 Carbide 1650 Wright Harareaves 90 Willroy 1 05 Windfall Gas 9 75 union OM 1512.- Grain quotes Tuesday (basis United Siscoe 6 55 i ptphpaH I Yellowknife Bear 4 Mfg 6 25 Westons B 21 00 High LOW Close uo A 23 00 Flax OPENING QUOTES Abitibi Cdn Seed 550 Qct 933 g2g 933 Alcan Imperial 3050 Nov 912 910-' 1 912 Algoma Steel 18.50 Atco Ind 13 1862'; Ijer 897U 888 Atlantic Sugar 6 Scotia May gg3 Agra Ind 11.87' 34i21r Rapeseed Vancouver Miscellfineous Vancouver, Calgary, Montreal Thunder Bay Supplied by Doherty, McQuaig Ltd.) Oct 543 525 WESTERN Trust 2462'; Nov 543 535 538 AND 5 00 Dec 3to 2 49b b04 Albany Oils 410 May 518 Alta East Gas 7 Cdn Seed 5 50 Almmex 6 Mm 115 Asamera 1 1 A Pfd 6200 Oct 146 145Jz 146 Ashland 11 Yukon 1062'; Dec BP Can LINE STOCKS ior Brenda Mines 7 Gas A 1162': JUa> Can South 5 Gas Pfd 67 00 Jlv loa Cdn Ex Gas Nat Gas 19 25 Barlev Cdn Homestd 7 Nat Gas 1000 n 99fi Cdn Ind Gas Oil 7 12' and C Gas 9 25 uu i Cdn Long Is ind C B Pfd 21 50 Dec 225 222 Cdn Sup Trans 1137'; Mav _ _ 217 Chieftan 11.1 Metro 4 40 nyr. Dome Pete 34 Metro A 6400 Dynasty 9 Can Pipe 29 50 Rye Fort Reliance 2n Oct 298 293 298 Giant Mascot 2 79 Granisle 9 Can B Pfd 3950 r" Tr Pipe War 610 Dec 284 284 Gt Plains 30 Trans 1712'; Mav 293'2 285 293'2 Gt Cdn Oil S 8 Trans War 3 25 _ _ Lochiel 2 70 Lytton Min 2 Oils 03'; Noble Mines 1 Cont 02'; North Cdn Oils 7 Warner 31 Numac Pancdn Pete TV'liI 11 la 11 f Pan Ocean 16 Cl E 1 I J 1 ct III. Petrol 1 9 10 Pinnsclfi Explor 35 Place Gas 63 Ponder 38' Norse 77 in operation Dankoe 1.95 Ranqer 34 37' 51 Scurry Ram Vard 20 Seibens 'i3 00 Total Pete 7 13JO TRAIL. B.C. Ulster Ltd operations here resumed West Pete 6 Sunday despite an announce- W Decalta 7 05 'stand 226 ment by management Friday Copper 885 that the plant would complete- Acres Ltd 14 00 Aquitaine 22 87' 2 B C Sugar Pfd 14 3 85 be shutdown due to the rail Key Indus 20 Situation. Block Bros 1 so Rail workers in Trail voted Com Cap Corp 3 25 Cdn Brew A 25 25 Cdn Brew B 29 Expior 88 during tne weekend to return Plains Pete 27 to work after resisting the Cdn Pacific Inv Pfd 30 EX 90 back-to-work order issued bv Crestbrook Ind 12 25 Falcon Copper 1375 F and M Trust Intl Res 1 00 Parliament MUTUAL FUNDS rdmameni. AII Cdn com 691 751 A Cominco spokesman said Genstar 1600 Global Com 44.50 Home A 47. 37' Cdn DIV 732 796 the plant was expected to be AmerdGrowF III 6 oo back at full production by Home B 45 Spec 2 90 today. About men are Hud Bay Co 17 75 Hud Bay Oil 579 6365 employed at the plant. Hud Bay A Pfd 57 Inter 14 52 15 96 Hugh Russell 51 Lev 3.82 4 20 Husky Oil Vent 7 22 7 94 Husky D War 9 Invest 6 20 6 85 x II Husky E War 11 Invst F 515 5.66 Hys of Can 3 F US 1079 11 82 Inter Prov Pipe 8 Pacific 4 71 5.15 Inter Prov Steel 13 Income 3.44 378 IllfllrCS Kaiser Res 3 Equity 7.69 8 45 Loblaw C Pfd 27.75 Magnasonics 125185 1640 WINNIPEG (CP) Gold Pacific Pete 32 Accum 599 659 futures. U.S. funds. Winnipeg Pac West Air 11 00 Pe-Ben Oilfield 7 505 555 Commodity Exchange close Rainier Inc 5 Cdn 5 67 6 23 Tuesday Grow 511 562 Oct 73 10365, Jan 74 fc Grow 453 497 i in OK A- T It I 673 701 i, D' APr 'i D.: (Supplied by Grow 835 915 (4 Oct Accum 514 565 1173QA Securities of 610 67? Monday's volume: Fifty Amr 21 62'; Anaconda 23 650 712 contracts. Beth Steel 27 12'? Chrysler 23 75 Comsat SALE Dupont 163 General Motors 6487'; Gulf 21 87' Int Harvester 32 62' i Kenn Copper 3? Montgomery Ward Soars 94 50 X-Ron 8637'; Texas Gulf 23 50 Texas Co 29 Wix Corporation Woolworth 22 Westmqhouse Elec U S Steel 29 75 General Telephone Elec LETHBRIDGE ALBERTA TORONTO 20 Industrials 215 96 down STORES 651 PARKING STALLS 20 Golds 269 78 down 1 17 10 Base Metals 101 91 down AREA: 10.6 acres 15 Western Oils 252 94 down 91 Volume 573 000 SPACE: sq. ft. NEW YORK more information call Homz Nipman Offiu' Home 482-5219 30 Industrials 883 20 down 2 55 ?0 Rails 16051 up 19 15 Utilities 99 18 up 03 6I> Stocks 269 82 down Realty Projects Ltd. No. 504, 10408 124 Street, Edmonton, Alta. Volume i.010 ;