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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 20, 1972, Lethbridge, Alberta 10 HEKAID 50, 1972 prices Market JL mixed to lower TORONTO (CP1 Prices on Iho Toronto stock market were mixed to lower in light mid- morning trading today. The industrial index, consid- ered a major indicator of mar- ket trend, was off .02 to 209.85 and western oils .52 to 250.65. Golds, however, rose 2.16 to 192.31 and base metals .27 to 93.13. Volume by 11 a.m. was 000 shares compared with 48 080 shares traded by the same time Tuesday. Sectors of the market regis- tering declines were beverage, construction and material, steel and general manufacturing stocks. Chemical, oil refining, real estate and trust and loan Issues were up moderately. Declines led advances 107 to 95 with 198 issues remaining unchanged. Premier Cablevision was ofl 1V'4 to JlOVi, Falconbridge Nickel Ul to S7Bs, Hudson's Bay Oil and Gas to Quinte-Canlin 10 cents to and Abitibi to Nfontreal Trust rose 2ft to Hamilton Group to Royal Bank to Standard Paving V, to 518 and Gulf Oil to 535-1 s. Dynasty fell 30 cents to Camflo 5 cents to and Chemalloy 4 cents to United Asbestos climbed 30 cents to and Liberian Iron Ore Vi to LIGHT TRADE MONTREAL (CP) All sec- tors advanced in light trading mi the Montreal stock market today. Combined volume on the Montreal and Canadian stock exchanges at 11 a.m. was 400 shares, compared with 100 at the same time Tuesday. On index, banks rose .74 to 266.82, utilities .39 to 158.31, pa- pers .32 to 93.05, the composite .25 to 218.59 and industrials .13 to 227.83. On the Montreal Stock Ex- change, Montreal Trust gained 2 to while British Colum- bia Telephone dropped 1 to and Great West Life 1 to PRICES LOWER NEW YORK Wesrfic-td 1.05 30.75 CALGARY Acroll .70 Barons Oft .03 North Corn .'5 West Warner .37V __..... PIPE LINE STOCKS Doly Varden Alia Gas A 58.75 Dynaslv Alta Gas Pref 67.50 Equitorla) Airs NaT Gas 20.50 Pert Re I lanes Inland Nat Gas Glarrt N and C Gas 12.37Vt Gralsk N and C B Pfd 26.15 Lornex 7.20 Pacific Trans 13.25 Lylton Mineral! 1.43 Gai Metro 4.75 Primer Gaz Metro A 70.00 10.50 Trans Cda 4i.42tt Standard Trans Cda B 41.50 Texmonl Trans Cda A M.6W4 an Trans Cda War 11.00 Valley Copper VVC Tram 77.75 INDUSTRIAL Trans Wts B.W Bros MUTUAL FUNDS B.C. Sugar All Cdn Com 3.45 9.24 B.C. SugAr Pfd All Cdn Dlvld 9.24 10.30 Capt Inter All Cdn Vent 4.19 4-58 Columbia Brew Amr Gr F CrestbrooK F Ind AGF Special 3.23 Hys In F 5.72 5.72 Key IfKfust Cmnw Inter 1J.90 16.37 Pacific. W Air Cmnvii Lev X.05 -4.45 Inll Res Cmnw Vent 8-95 OILS Corp Invest 6.15 6.72 Albany 011 Corp In St F 5.21 5.69 Plains 7.19 5.35 7.40 9.00 1.E6 .11 -32 1.00 Coal seen major fuel for power generation CALGARY (CP) Caol will I be the main fuel for power generation in Alberta and may be used increasingly as an in- dustrial fuel, the Alberta Ener- gy Resources Conserv a tloo Board was told Tuesday. The forecast came from David Ross and William Lee, representing the Vancouver- based Acres Consulting Ser- vices Ltd. for Alberta and Southern Gas Ltd. They were testifying at the opening ses- sion of a hearing into the prov- ince's total energy require- ments covering all fuels for a 30-year period to 2001. The consultant.'; said their' forecast of increasing coal use during the period is dependent upon continued buoyance of the petroleum industry, including development of synthetic oil from the Athabasca sands. They said another vital fac- tor in a projected growth of de- mand for coal as a thermal fuel is a free market situation for natural gas demand. Given these conditions, Mr. Ross said, coal will be able to maintain a price advantage over gas of 12 cents a thousand British Thermal Units, making it attractive as a fuel for therm- al power generating He estimated coal demand over the 30 year period at half a billion tons and said at conservative estimate there is a billion tons of recoverable coal in Alberta In a 15-to-20- cents BTU price range. Mr. Ross said Alberta plains coal has a low sulphur content which would enable it to meet future pollution regulations and could make a comeback as an industrial fuel If Oie price of hydrocarbon fuels increases. 24.00 8.00 15.00 36.75 8.75 3.20 73.12W 15.50 3.75 3.00 3.25 3.00 .60 2250 .76 17.75 Dreyfus F U.S. 12.47 13.38 West Explor Toronto industrials (SnppUcd By Richardson Secnritfes of Canada) LAST BID OR SALE llliDO a.m. Quores> niiDO a.m. Oucrtes) Pfna Point SI.12% Grt Cdn Oil 7.93 Placer Oev. 40.75 Gen Motors P.C. Exp. 2-86 Grt Lakes Pp .10 Gulf Oil Cds 1.09 Greyhound .33 Hawker Sid Hur B, Erie 7.30 Hiram Walker 15.50 Imp Oil 2.15 1.57 14.75 1.50 Rapeseed Vancouver: Sep. higher 2.74B; Nov. 4% high- ir 2.73ViB; Jan. 314 higher March higher Rapeseed Thunder Bay: Oct. higher 2.55A; Nov. ligher 2.56WB; Dec. It's higher May ITi higher ;.60ViB. Oats: Oct. unchanged 86Vs; Dec. unchanged BS'.iA; May Vs ower SGiiA; July lower Barley: Oct. Vs lower Dec. Vs lower ilay lower July un- changed 1.32A. Rye: Oct. higher 1.1914A; Dec. 3s higher 1.22A; May uglier 1.27-ysB; July not open. Grain quotes Tuesday (basis jakehead High Low Close Flax Oct 320 316 Vi Nov 318 316 Dec 312 309% May 321 Vi 318 Vi Rapeseed Vancouver Sep 272'A 269% Nov Jan 269 Vi 267 Vi Mar 268 Vi 266 Rapeseed Thunder Bay Oct 25214 2 Nov 2533i 25112 Dec 248% 248 May 258Vi 256% 313 319% 269 289 267V4 253 Beef prices reduction proposed TORONTO (CP) Retailers of beef should adopt a "more responsible" policy by reducing the price of meat, Charles Gra- cey, Toronto manager of the Canadian Cattlemen's Associ- ation, said Tuesday. Gracey, who said last week that producers and con- sumers are being victimized by pricing policies of super- markets, saidi live cattle prices have dropped by a hun- dredweight in Canada in tiie last month while retail prices generally were holding steady or going up. One result of lowered live prices was -that some cattle were being held over at the stockyards for better returns. "If too many are held over, this tends to back up the whole lie added in an inter- view. "We would move more animals if the retail prices moved parallel with live prices, and everyone would be better off." Mr. Gracey conced ed th at there have been some "slight" downward retail price move- ments but said they have been "just a token." "We appreciate the retailers he said, "but when you get into the kind of pricing that has been going on lately, it's got to hurt." 7.50 2.3S 30.50 a.m. Quotes) MINES Acma -21 Advocate Asb. 1.4, AKaHcho Bralorna Broulan Bethtenem Brunswick Can NW Land Canada Tung. Casslar Central Pal. Chi mo Conwest Cons. Rambler Coin Lake Cochenour Craig Dlckensoa Mil Dcnlsoo Mines Deer Horn D'Etiona Dome Donalds Discovery East Malartlc East Sullivan Falconbrlrigo Frobex First Gfant Y.K. Bovls Granduc Headway R.L. Hollfngtr Hudson Bav M-S Hydra Ex. Iron Bay Jollet Quebec Kerr Addlson Key Ana con Labrador Lake shora Long Is Sliver Mad sen R.L, Malarllc G.F. MarHn fAchJeely Mela Mldrlm lnterr> Mogul Nu West New Athona New Calumel Nora n da Oshko Auto prices still mystery By THE CANADIAN PRESS With the introduction of 1973 models only a week or so away, Canadian car manufacturers have not been able to announce their prices. The dilema Js the price freeze In the United States where the auto makers have been forced to rescind proposed price in- creases. The ruling is being appealed, but that will take time. Whatever the decision, the in- Quebec Man Rayrock Radlore Rio Algom Roman Corp. Sherritt Gordon Stiver Miller .0-114 [masca Sfeep Rock Tek Corp. 5.00 Texmont .40 Upper Canada 2.70 Western Mines 3.10 Wright Hargreavei 1.03 Wlllroy 5-18 Windfall .10 Ytlowknife Bear 3.90 Zen mac .10 INDUSTRIALS ti.OD .53 2.15 3.50 i.SO 40.00 Ablllbl Alcan Afgoma Steel Atco Ind AManHc Sugar Agra Ind Sell Tel Brazil Trac B.C. Tel Burns B.C. Forest B.C. sugar Bow Val Ind CAE Ind Cdn Brew .19Vi Chemcell 3.45 Col Cell Calgary Power Coron Credit .2016 C.W.N. Gas Cdn Lnd 3.05 Cdn Marconi .07 Cdn Vickers .55 Chrysler .S3 C.P.R. .1114 Commco 31.00 Cons Bafh .11W Cons Cos Dlst Seagran 10.50 Dam Bridge 10.00 Domfar .15 Porn Textile .22W Dom Sloros 40 12W Dome Pele 5.75 Dofasco .21 Cable 9.75 33.00 Int Nickel Int Pipe Inv Grp A Int Ufil Ind Accept LaureMide Kelly Doug A Loeb Loblaw A Kaps Transport Stores Massey Ferg McMlHan 13.fi7Vi Corp 12.25 Molsom A A.OO Molsons B 12.S5 Norlh fc Pov.'er Corp Prfce Co. 57.75 Rothmans 16.25 St. Corp 20.00 shell CDA 52.50 Simpson's 36.50 Simp Sears G.50 S1eel cf Cda Selkfrk A 3.45 Texaco .70 Traders Grp A 24.00 Trans Mtn Pp 1.75 Trans Cda Pp Prd 11.25 Union Gas Union Oil Mfg 10.50 Wcsleel Union Car Weston's B Woodward's A Wcsl Cdn ZtnUn Elec BANKS Cdn Imp Montreal Nova Scot I a Royal Tor-Dom 14.50 16.25 36.12'A 32.75 15.50 29.0D U.M 27.75 73. H 15.75 35.37Va 10.75 3.70 31.75 xa.oo 40.25 26JO 27.75 4l'oO 21.00 13.25 7.B7VI 3.80 21.50 U.75 19.75 12.25 10.35 20.00 49.00 W.OO 3-1. SO 27.00 5J.OO 45.62V} 13.50 45.50 6.00 18.00 21.47W 3.X 20.62'A Arctic gas pipeline still 3-year-goal TORONTO (CP) With more than 520 million already spent studying the feasibility of an Arctic pipeline, officials pre- dict it will be at least another three years before the first pipe is laid. Canadian Arctic Gas Study Ltd., formerly Gas Arctic- Group, is carrying out exten- sive studies on every aspect from economics to environmen- tal control. Officials say the cost of the studies could rise to million before any definite plans are formulated. Cost of the pipeline is expected to surpass bil- lion. Gas Arctic and Northwest were> until .Tune, separate groups conducting individual studies. They have merged and are reassessing their plans in light of each other's findings Vernon Horte, former presi- New York stocks (Supplied By Richardson Securities of Canada) Amr T And T Beth Sisal Chrysler Comsat Dupoflt GM Gulf Int Ktnn Copper 30.00 174.75 Sears Srcf Oil of N.J. Texas Gulf Texas Co VYickes Corp worth I07.CO 20 Golds up 3.27 79.59 10 Base Wei 92.5-J up .04 ViT.OO 15 W Dili 250.40 tock calves on offer sold iteady. Good feeder steers 750 pounds up 32 to 34, good stock iteer calves 43 to 52. Good stock leifer calves 35 to 39. Hogs average base price 36.40. Lambs sold steady Tues- day, good lambs: 23. Anglican church sells mine shares Hog prices EDMONTON (CP) Aver- age prices to 11 a.m. provided >y tlie Alberta Hog Producers Marketing Board: Edmonton: 36.40, average Tuesday 37.24. Deer: 36.40, average Tuesday 36.38. Calgary: 36.40, average Tuesday 36.67. jethbridge: Nil, average Tuesday 36.69. Lloydminster: Nil, average Tuesday 38.70. Grande Prairie: Nil, average Tuesday 36.43. Fort Macleod: Nil, average Tuesday nil, Fairview: Nil, average Tues- day 30.50. Total hogs sold 364. Total sold Tuesday Average 36.M. Sows average 26.20. LONDON (AP) Th- Church of England has sold it major shares, worth mil lion, in Eio Tinto Zinc, the in ternational mining and smell Ing corporation. The church said Tuesday Un decision was taken because o the firm's plans to mine ura nium in South Africa agains United Nations advice. The Church of England com missioners said In a statemen the decision was taken aftc considering "the needs of oth ers who, in different ways, ma be affected by the commission ers' investments." Rev. David Haslam, a Met] odist minister heading a cam paign against British church in vestment in South Africa, sai churchmen had opposed Hi Tinto's proposed Involvement i uranium mining In the UN name for Soulh-Wes Africa. The territory is a former German colony mandated to South Africa by the old League of Nations. The United Nations now maintains (he mandate is ent of TransCanada Pipelines td. and present head of the ew organization, said recently at if application for construe- on can be filed by mid-1973 ,ve hope that another year for earings and a decision sill do Assuming that all goes lanned, officials want iruction to start in the winter f 1975-76. Rul before the first pk'K racks the ice, the federal gqv rnment will have to give its ppvoval, international bankers vill have to provide financing nd the builders will have t atisfy environmentalists tha pipeline is no ecologica .anger. The builders must also prov- hat nothing can go wrong wit! he pipeline to connect dis coveries in the Madiera I Uver delta and on Alaska1 Vorth Slope with southern mar kets. Gas Arctic had been plannin route that would take th >ipeline along the Mackenzi to Alberta and corner with the Alberta Gas Truni Line Co. Ltd. pipeline system. MANITOBA TERMINUS Northwest, on the other ham favored a route cutting diagi nally across the Northvijst Te ritrries, Alberta, Saskatchewa and into southeastern Man Loba. Whatever plan is Impl mentcd, the gas will eventual serve markets between Califor nia, the midwestern U.S. an Eastern Canada. Reserves of gas on the Nor Slope have been estimated at trillion cubic feet while th Mackenzie delta supply h; been estimated at 15 trilli< cubic feet. Sixteen members of Canadii Arctic Gas and at least a doze companies from both sides the border have expressed i terest in joining. William Wilder, former prei dent of Wood Gundy Ltd. of T ronto and now chairman of C nadian Arctic Gas, said definitely, anticipate there w be more partners by the end the year." slry in Canada will have to low suit for both political and mpelitive reasons. The immediate result Is that w car buyers may get some- tag of a bargain if they buy a 73 car early in the model ar. President Hoy Bennett of ord Motor Co. of Canada Ltd. Id a press review that "prices the first quarter of the model car will present a very at- active buy to the consumer." Canada is not bound to follow 10 U.S. lead, of course, but dustry is "sensitive to the rice gap." IVE-PER-CENT SPREAD He was referring to the price ifferential between similar ars in the U.S. and omething in the range of ve per cent. Mr. Bennett said much of this ifferencc is accounted for by ifferent tax levels and cur- ency values. With U.S. prices frozen, tha Canadian makers hesitate to In- rcase prices here even though hey say such action would ba i-arranted because of addi- ional cost. "We are most hesitant to widen the gap and risk the hue and cry that would follow, espe- cially in an election Mr. Jennett said. "At the same Imc, we feel an obligation to our shareholders." If substantial increases arc In he offine, they likely won't come until after early 1973. For the present, however, the manufacturers are not decided on prices. For Ford, Mr. Bennett said: "Just how far we'll go and how quickly is what we're wrestling with at the moment." WORD EXPECTED SOON A General Motor of Canada spokesman said he didn't even have "n sixth scnsf." about what the company will say on prices when it makes its nouncement about Sept. 20. A Chrysler of Canada official said new models will be In- troduced Sept. 28 "and that's when we'll have something to say about prices." Mr. Bennett said "there's no question that the prices of 1973 models should go up, and will fa up at some point in time." The cost of 1973 automobiles was up an average of a because of ad- ditional emission-control equip- ment, safety features and other design and cost increases. Despite the uncertainties, Mr. Bennelt predicted a good year for sales In 1972, and even more improvement In 1973. He saw sales of 1.1 million cars and trucks in the 1973 model year compared with an expected 1.05 million in 1972. If sales do top a million for 1972, it will be a record. New oats quota WINNIPEG (CP) The Ca- nadian wheat board Tuesday announced a change in the quo- ta for oats effective im- mediately. The new quota, opened in all shipping blocks, is five bushels a quota acre for oats grading extra No. 1 feed and higher only. Beef futures (CP) Live beef futures close Tuesday. Eep 33.40A; Nov 35.75B; Jan 35.SOB; Mar 35.25N. Monday's volume: Four con- tracts. REQUIRED IMMEDIATELY SALESMAN fa cover Southern Alberto, I.E. B.C. for LEADING BUILDING SUPPLY CO. Sales experience an asset but not essential Good wages, company benefits. Apply Box 63, Lethbridge Herald ALBERTA REAL ESTATE ASSOCIATION Presents AN INTERMEDIATE COURSE IN REAL ESTATE 25 EVENING LESSONS BEGINNING WEDNESDAY, SEPL 27th for (Maili and RegTifratTon Contact; LETHBRIDGE REAl ESTATE BOARD CO-OP LIMITED 522 6111 Sired South Phone 328-8838 WANTED BY LEADING G.M. DEALERSHIP AUTOMOTIVE MECHANIC A Journeyman General Duly Mechanic is required for a flat rote shop with o 35 hour per week guarantee. Salary: per hour and fulr range of company benefits. Mechanics with G.M. product experience will be given preference. Direct all applications to: MR. GORDON ANDERSON, Service Manager STAMPEDE PONTIAC BUICK LTD. 1449. 17th Avenui 5.W., Calgary, Alberta Phone: 244-8921 ;