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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 20, 1973, Lethbridge, Alberta 20 L.ETHBRSDOE HERALD Thurtdny, 20, 1973 Syncrude decision praised EDMONTON (CP) The decision of Syncrude Canada Ltd. and the provincial government to proceed with development of the Athabasca oil sands is "a tremendous step forward, says Werner Schmidt, Alberta Social Credit leader. He made the statement after Premier Peter Lougheed announced agree- ment over conditions of the extraction plant 225 miles northeast of_Edmon- ton. "I can see tremendous potential in the tar sands, not only from this plant but with plants three, four and five coming on said Mr. Schmidt. He praised an agreement under which the province will receive 50 per cent of Syncrude's profits in the form of royalties. But some questions were not answered in the premier's televised speech, such as the cost of the pipeline from the oil sands, the cost of the area's power plant and who will control the board of the Alberta Energy Company, said Mr. Schmidt. Herald- Business berries Knee-deep in floating cranberries, a harvest crew rakes in some of the three-million-pound crop at a farm in Richmond, B.C. Harvest technique in- volves beating bushes so berries fall off, then flood- ing fields so berries can be floated out. Newspaper increases its prices WINNIPEG (CP) The Free Press has announced that effective Oct. 1 the single-copy price will increase to 15 cents from 10 and home- delivery rates to 75 cents a week from 60. The Saturday edition, which includes Weekend Magazine, will go to 20 cents from 15 cents. In its announcement, the newspaper cited rising costs and said the new price will be in line with such cities as Toronto, Montreal, Edmonton and Calgary Here's the Who's Who of car gas guzzlers WASHINGTON (AP) -The United States Environmental Protection Agency (EPA) re- leased today its 1974 Who's Who of Gasoline Guzzlers, showing that the season's new cars will get slightly fewer miles per gallon, on the average, than the 1973 models. With some new cars not yet tested, EPA reported an over- all average of 15.1 miles a gal- lon on the 376 vehicles checked, three-tenths of a mile less than the 1973 average. The averages ranged from 24.4 miles a gallon for pound cars to 15.3 at pounds, and on down to a low of 8.3 in the heavyweight pound class. All gallonages are American standard. The most economical car tested was a Honda Civic at 29.1 miles a gallon, followed by Toyota's Corolla-1 coupe and sedan at 27.1 and 24.8. Rock-bottom among the EPA tested cars was the pound Ferrari-365 GTB-4 with a 268-cubic-inch engine a mere 6.4. Only a drop or two better was a Oldsmobile Toronado with automatic transmission, whose 445- cubic-inch engine rolled it CHARTERED ACCOUNTANT REQUIRED A Chartered Accountant is required by a practising professional firm in Lethbridge. Duties to include staff supervision, training, and development of audit work programs. An excellent opportunity for a qualified per- son. Reply in confidence stating experience and salary expected to BOX76 HERALD only 6.8 miles on one gallon. EPA collects fuel-economy data while verifying anti- pollution performance in a test that simulates urban driving. The agency issued its first gasoline-mileage listing on 1973 vehicles last April, to en- courage fuel economy and thereby reduce pollution and ease the energy shortage. For 1974 cars, EPA propos- ed the voluntary display, on new cars, of gasoline-mileage data by weight class and in- dividual model. Most manufacturers intend to par- ticipate. DRIVER A FACTOR Within any production run, vehicles of identical design and equipment may vary widely in their actual on-the- road fuel economy, depending heavily on the habits of the drivers. But EPA says the test find- ings and averages provide at least a comparison of relative fuel economy characteristics that can be weighed by car- buyers. As usual, sheer weight is the biggest mileage-stealer; as auto weight rises from to pounds, performance drops from the average 24.4 miles a gallon to 15.3, losing about one mile a gallon for every 100 extra pounds. Above pounds, the weight effect works less rap- idly, with performance dropp- ing less than half a mile a gallon for each 100 pounds. The mileage-stickers dis- played by participating manu- facturers this fall were de- signed by EPA and will show, at least, the average fuel economy for each weight class and the weight class of the individual car. As an optional feature, the sticker may also display the specific EPA-tested gasoline mileage for that particular model. Here is a summary of the average fuel economy and top performers in each of the 10 EPA weight classes: pounds, average 24.4 miles a gallon: Honda Civic 29.1; Toyota Cord coupe 27.1 and sedan 24.8. pounds, average 21.5: Datsun B-210 manual transmission 24.9; Toyota Corolla-2 sedan 22.6; Datsun B-210 automatic 22.2. pounds, average 18.9; Subaru SW 22.7; Volkswagen convertible 15 22.6; Toyota Corolla 2 sta- tion wagon 21.1. pounds, average 18.5: Chevrolet Vegas hatchback 24.6; Ford Pinto 22.8; Dodge Colt SW 22.8. pounds, average 15.3: Chevrolet Vega kamm- back 20.0; Ford Pinto wagon 19.6; Toyota station wagon 19.4. pounds, average i3.9; Ford Comet 19.9; Volvo- 145 18.4; "88" Land Rover 17.7. pounds, average 11.3; Ford E-100 18.9; Ford F- 100 16.4; Chevrolet Nova hatchback 15.7. pounds, average 9.2: Buick Century wagon 16.7; Ford Montego wagon 11.4; Chevrolet Impala Sport Sedan 11.0. pounds, average 8.3: Cadillac Eldorado 10.4; Chevrolet Impala estate wagon 10.0; Buick estate wagon and Chevrolet Caprice wagon 9.6. M. C. Slavich, C.L.U. Representative LETHBRIDGE Tel: 327-5514 E. Mayeske Representative LETHBRIDGE Tel: 327-5514 ManuLife has the pension plan for small companies. Now companies with as few as five employees can offer attractive retirement income potential. Our Pension Investment Plan can be fully integrated >.vith the Canada and Quebec Pension Plans. Call us today for a look at the future. the M.imif.ii turi'rs Life Insur.mcu Company Oil operation days numbered Stocks Miscellaneous Vancouver, Calgary, Montreal (Supplied by Doherty, McQuaig Ltd.) Stock prices rally on TSE WESTERN OILS AND Teledyne West Cdn 4.10 550 Albany Alta East Gas Alminex Mm 1 16 Weston A Pfd 60.50 White Yukon 10.25 PIPE LINE Ashland BP Can Brenda Mines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charter Oils Chieftan Dome Pete Dynasty Fort Reliance Gibraltar Giant Mascot Granisle Gt Plains Gt Cdn Oil S Lochiel Lytton Mm Noble 5.25 7.25 570 3.30 8.30 8.75 18 5350 4.00 12.75 33.00 9.60 .25 1337% 292 9.50 28.25 8.25 2.89 1.95 Gas A Alta Gas Pfd-Alta Nat Gas Inland Nat Gas N and C Gas N and C B Pfd Pacific Gas Trans Gaz Metro Gaz Metro A Pfd vTrans Can Pipe Tr Can A Pfd Tr Can B Pfd Trans Can War WC Trans WC Trans War CALGARY Acroll Barons Oils N Continent West Warner 63.50 19.50 9.87% 9.50 21.50 11.25 4.15 64.00 29 87% 57.00 38.37% 5.70 15.75 2.95 .70 .04 .01 .31 North Cdn Oils. Numac Pancdn Pete Pan 1787% 14.00 19.00 Afton Atlas Explor Bath Norse .35 .70 2.10 Petrol Pinnacle place Gas Ponder Ranger Scurry Rain Seibens Spooner Total 40 32 87% 19.37% 14.62% .42 700 Dolly Vard Equitorial Lornex Primer Pyramid Silv Stand Valley Cop 25 20 12.00 .10 .14 2.42 865 Ulster West Pete W Decalta Brew Key Indus Ward 20 1.95 Acres Ltd Aquitaine BC Sugar Pfd Block Bros Com Cap Corp Cdn Brew A Pfd Cdn Brew B Pfd Cdn Pacific Inv Crestbrook Ind Crowsnest Ind Falcon Copper F and M Trust Genstar Global Com Units Home A Home B Hud Bay Co Hud Bay Oil Hud Bay A Pfd Hugh Russell Husky Oil Husky B Pfd Husky D War Husky E War Hys of Can Inter Prov Pipe Inter Prov Steel Kaiser Res Loblaw C Pfd Magnasonics Pacific Pete Pac West Air Pe-Ben Oilfield Rainier Inc Royal 21 25 1425 2.75 3.05 25.50 2950 30.12% 1387% 25.00 13.75 5.50 16.50 4400 4600 4300 17.62% 47.00 55.00 5200 2425 41 62% 8.50 10.00 4.15 8.05 1275 315 2712% 700 30.75 10.25 7.12% 500 Explor Plains Pete Ponderay Explor Stamp Intl Res MUTUAL FUNDS All Cdn Com All Cdn Div All Cdn Ven Amer Grow F AGF Spe Cdn Invest F Collec Mut Com Inter Com Lev Com Ven Corp Invest Crop Invest F Dreyfus F U.S. Grt Pac Grpd Income Grow Equity Invest Grow F Invest Mut Mut Accum Mut Grow F Nat Res NW Cdn NW Grow Prm Grow Royfund Temple Grow United Accum Univer Sav Univest .28 95 94 7 06 7.67 7.47 812 3.73 4.05 5.66 6 22 507 555 5 99 6.58 14.50 15.93 3.76 4.15 7.21 7.92 6.13 674 5 20 7 51 10.94 11 99 4 66 5.09 3.47 3.82 7.69 8.45 11.91 13.02 5.79 6 33 5 93 6 52 3.70 4 07 5 04 5.54 5.64 6.20 5.34 5.87 4.63 5.08 6.75 7.03 8.27 9 06 5.19 570 7.89 8.67 6 06 6.66 6.71 7.35 JOL Toronto mines, industrials (Supplied by Richardson Securities of Canada) TORONTO (CP) Prices on the Toronto stock market extended Wednesday's rally in active mid-morning trading today, posting strong gains in most sectors. The industrial index, consid- ered a major indicator of mar- ket trends, was up 1.57 to 217.69, golds .70 to 283.90, base metals .64 to 102.91 and western oils 245.00. Volume at 11 a.m. was 000 shares compared with at the same time Wednesday. Advances h id a sirong lead over declir. to 72, while 200 issue; A-L-H- unchanged. Oil refii beverage, mer- chandising and construction and material issues were among sectors of the market recording gains while real es- tate and trust and loan stocks were the only sectors showing declines. Bow Valley rose IVs to Gulf Oil 1 to Imperial Oil 1 to Microsystems Vz to and Slater Walker to Provigo Ltd. dropped Vz to Hardee Famrs 5 cents to IAC International Vt to V4 and Noranda Mines A Vs to Gibraltar climbed to Vi. Camflo 25 cents to and Rio Algom to Lost River dropped 50 cents to and Brunswick 5 cents to 20. MONTREAL (CP) All sectors registered moderate gains in light trading on the Montreal stock market today. Combined volume on the Montreal and Canadian stock exchanges at 11 a.m. was 600 shares, compared with shares at the same time Wednesday. Industrials rose 2.76 to 248.19, the composite 2.33 to 229.66, banks 1.12 to 271.35, utilities 1.39 to 141.85 and papers .90 to 139.56. On the Montreal Stock Ex- change, Peoples Department Stores rose to Inter- national Nickel Vz to Bell Canada to and Aquitaine Co. of Canada to while Power Corp. fell VB to TRIPOLI (Reuter) The days of operations in Libya by the major international oil companies may be numbered as an unpublicized Oct. 1 deadline nears for them to accept the government's takeover of a controlling interest. When Libya's government announced Sept. 1 that it was nationalizing a 51-per-cent share of the "majors" operating here, it gave them a 30-day not reported at the which to accept the measure. The announcement, climax- ing celebrations of the fourth anniversary of the coup which toppled the Libyan monarchy and brought the energetic regime of Col. Muammar Gaddafi to power, came after the expiry of an ultimatum from Libya to the majors. In- volved were the American majors, Texaco, Standard Oil of Oalifomia, Mobil and Exx- on, and the Anglo-Dutch Shell concern. The ultimatum called on them to agree to the same kind of terms which had been accepted in August by big independent oil companies operating Marathon, Amerada Hess and Occidental. The August agreement sig- nalled the collapse of the com- mon front major and inde- pendent companies had once tried to present to Libyan demands, and the Libyan leaders were quick to follow it up. SQUEEZE APPLIED The independents accepted compensation on the basis of net book value, with buy-back prices well above previous market prices. buy-back prices are those at which Libya would sell back to the companies oil from its share.) The majors' basic worry is of setting a precedent which might affect their more im- portant interests in the Per- sian Gulf area, if countries there try to follow "the Libyan example. The independents, on the other hand, are heavily de- pendent on production in Libya, the world's fifth- ranking oil-producing country with a daily average of 2.2 million barrels. With the back of the major- independent alliance effec- tively broken, Libya was in a comfortable position to press a hard line. Tel Burns Advocate 20 BC For BC Sugar Bow Valley Ind Cable CAE Ind 05 Cdn Brew Brunswick Can. NW Chemcell 8.30 Col Cellulose Canada Tung Cal Power 12 75 Coron Cred Central CWN Gas 03 Cdn Ind Cdn Marconi Cons. 35 Cdn Vickers Com Chrysler CPR Craigmont Dickenson 40 Commco 315 Cons Bath Denison Mines 00 Cons Gas 40 Dist Seagrams Dome Dom Bridge Discovery Mines East Malartic East Domtar 3.40 Dom Textile Dom Stores Falconbridge 50 Dome Pete .28% Dofasco First Glen Mobile Giant Grt Cdn Oil Granduc Hollmger Hudson Bay M-S Hydra Ex Iron Gen Motors 45 75 Grt Lakes Paper 2612% Gulf Oil Cda 20 Greyhound 3 60 Hawker Sid Hiram Walker Johet Quebec Kerr Huron Erie 11.50 Imperial Oil Key Anacon Imasca 44.00 Int Nickel Lake Langis Silver Madsen Int Pipe 05 Inv Group A 1 00 Int Utilities Malartic Indust Accept Martin McNeely Kaps 52.50 Kelly Doug A Laurentiae Loeb Intern Mogul Nu West Loblaw A 8 75 Metropolitan New Athona New Massey Ferg .23% McMillan Bloed Moore Corp Northgate Molsons A .31 Molsons B Nachurs Pine 75 North Cent Placer 75 Power Corp Pax Price Co Quebec Rothmans Rayrock St Lawrence .32 Shell CDA Rio Algom Roman Corp. Sherntt 50 Simpsons 9.15 Simpsons Sears 1575 Steel Canada Steep 40 Selkirk A Tek Corp. 95 Texaco .22 Traders Group A United Canso Upper Canada Western 16.87% Trans Mtn Pipe 2.84 Trans Can Pipe 2.98 Union Carbide W House 20 Union Gas Wright Hargreaves Union Oil 1 06 United Siscoe 1 Versatile Yeilowknife Westeel Westons B A West Cdn Seed Zenith Algoma BANKS Atco Cdn Imp Atlantic 62% Montreal Agra 1 75 Nova Scotia Bell Royal Braz 48.25 1550 2225 20 62% 3550 1500 9.87 VS 4.55 5.37% 7.12% 2325 215 10.75 16.25 3.85 16.50 26.00 16.62% 31 62% 27 37% 14 42.00 38.50 2350 875 14 12% 33.00 27.75 9.75 8.25 64.75 26 62% 34.00 17.37% 5 37% 54.50 27.62% 44 87% 3000 33.25 22 62% 925 2525 1850 4.85 5.25 10.75 480 525 1550 23.50 34.00 51.00 2350 2225 775 950 11 00 16.25 14.25 20.25 1925 8 62% 11 87% 29 87% 15.62% 59.50 18.25 1725 2975 1600 975 1400 6.90 6.12% 15.00 1900 23 37% 550 3.00 3050 18.25 36.75 36 87% Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon Thursday was down 7-50 at 19-25. Pound sterling was down 21-100 at 97-100. In New York, the Canadian dollar was up 13-100 at 6- 25. Pound sterling was up 13- 100 at 13-100. Beet futures WINNIPEG (CP) Beef futures close Wednesdsay. Sept 47.60; Nov 48.50A; Jan 49.50; Mary 50.00. Tuesday's volume: Eleven contracts. Gold futures WINNIPEG (CP) Gold futures, U.S. funds, Winnipeg Commodity Exchange close Wednesday. Get 73 103.25A; Jan 74 106.75A; Apr 74 110.00B; Jly 74 113.70B; Oct 74 116.70B. Tuesday's volume: Forty- four contracts. On the Canadian Stock Ex- change, Dumont Nickel Corp. fell two cents to 50 cents on shares traded. NEW YORK (AP) Stock prices rang up sharp gains in heavy trading this morning, and brokers said it was a continuation of Wednesdays excellent performance. The Dow Jones average ot 30 industrials was up 7.07 points at 917.44 at noon after an advance of more than 19 points in the previous session. Among Canadians on the New York exchange, Inter- national Nickel was up Vz at Mclntyre at Alcan Vz at Seagram's at and Hudson Bay V8 at Massey Ferguson was down at Dome Mines 1 at Canadian Pacific at and Hiram Walker Vi at Winnipeg grain WINNIPEG (CP) Rapeseed prices were firm to marginally stronger today at mid-session on the Winnipeg commodity exchange. Flax prices were well off previous close levels, oats and barley fluctuated slightly and rye prices were up in nearby futures, but down on deferred months. Volume of trade Wednesday was bushels of flax, of rapeseed and of rye. Mid-session prices: Flax: Odt. 38% lower, 8.38B; Nov. 37% lower, 826VzA; Dec. 37% lower, 8.12B; May 35 lower, 8.09B. Rapeseed Vancouver: Sept. unchanged, 5.67B; Nov. higher, 5.51A; Jan. higher, 5.41A; Mar. higher, 5.38 %A. Rapeseed Thunder Bay: Oct. not open, Nov. not open; Dec. unchanged, 5.06B; May 2 higher, 5.18B. Oats: Oct. unchanged, 1.54A; Dec. unchanged, 1.42B; May not open; July 3% higher, 1.38 %B. Barley: Oct. 1% lower. 2.27; Dec. not open, May 2V4 lower July higher, Rye Oct. 6 higher, 3.64A; Dec. lower 3 35, May 8% lower. July 9% lower. 3.38B. Grain quotes Wednesday basis Lakehead. High Low Close Flax Oct 880 876% 876Vz Nov 870 864 864 Dec 865 849% 849% May 860 846 846 Rapeseed Vancouver Sept. 567 551 567 Nov 553 640 Jan 543 531 Mar 537% 529 Rapeseed Thunder Bay Oct 535 527 534 Nov 533 528 533 Dec 506 500 506 May 519 516 516 Oats Oct 154 153% 154 Dec 142 133 142 May 139 Jly 135 Barley Oct 231% 228 228i4 Dec 229 227% 229 May Jly 220 Rye Oct 358 Dec 344 328 May 353% 333% Jly 350 343 347-z New York (Supplied by Richardson Securities of Canada) Amr T-T Anaconda Beih Steel Chrysler Comsat Dupont General Motors Gulf Int. Harvester Kenn Copper Montgomery Ward Sears X-Ron Texas Gull JTexas Co Wix Corporation 33.00 50.25 woolworiii 23 87% westinghouse Elec. 29 12% US. Steel 2562% Qen Tele Elec 52.25 TORONTO AVERAGES 168.25 20 Industrials 21769 up 1.57 64 12% 20 Golds 263J90 up 70 23.00 10 Base Metals 102.91 up 64 33.00 15 Western Oils 245.00 up 1.94 3475 volume 868.000 26 50 NEW YORK AVERAGES 98 50 30 Industrials 918 42 up 8 05 89.62% 20 Rails 169.87 up 1 51 24.75 15 Utilities 99.85 up .28 31.87% 65 Stocks 28021 up 2.20 1512% Volume Systems 1003 4th Avenue S., lethbridge Telephone 328-4426 3bata 'processing Services Dealership Opportunity Join the trend toward healthful living Protected area Canada's leading manufacturer No franchise fee INVESTMENT FOR INVENTORY ONLY Viking Sauna Corporation of Canada Write: La Mac Sales Ltd. Calgary, Alberta ;