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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 21, 1970, Lethbridge, Alberta Mondny, September 11, 1970 THE LETHgRIDG! HIKALD 13 Bank Issues Lead Market Advance TORONTO (CP) The To- ronto stock market moved higher in mid-morning trading today with bank issues leading the advance. Royal BanK was up 14 to Toronto Dominion Bank to and Bank of Nova Scotia Vt to Canadian Im Strom Seeks Meat Sales TOKYO (AP) Premier Harry Strom of Alberta held talks with officials of the Japai meat conference today to fine ways pf exporting processet meat to Japan. Canadian embassy officials said Strom has not reached any agreements with the confer- ence) an association of Japanese meat importers. "He was, how- ever, very much encouraged by export the officials said. The. talks were preceded by a tour of a show room of Mitsu and Co., one ot Japan's largest trading businesses, and a lunch- eon given by Mitsui President Tfltsuzo Mitsukami. Strom later met with leaders of Keidanren, an organization ol economic organizations, and discussed trade problems be- tween" his province and Japan The leaders included the presi- dent of Keidanren, Kogoro Uem- ura, and Yoshihiro Inayama, president of Shin Nippon. Steel Corp. Strom arrived in Tokyo Satur- day tor e six-day visit that in- chides talks with Premier Ei- Sato and other government officials. He also will open a trade office in Tokyo Sept. 24. RIOT KILLS 10 BOMBAY, India (AP) Ten persons were killed and more than 70 injured in Hindu Mos- lem rioting Sunday night, a po- lice report said. SPARE TIME INCOME Company requires reiponslbla man or woman reMII snack vending machines with national brand products. Can net dependable person excellent second Incomi. Applicant must' bt honest; nave serviceable car, devote I to 10 hours weekly and be a bis to Invest to lor Inventory iqulpmenl. Routes established. No islllng. More Info provided If your letter contains details on self. When writing please Include phona number. Sunway Distributing Ltd. Suite 21000, Place d. VIII. Ottawa 4, Ontario perial Bank of Commerce wa unchanged at and Bank o Montreal lost V8 to Paper stocks remained gener ally unchanged despite an an nouncement by Abitibi Pape Co. of a increase in its price of newsprint for both Ca nadian and United States cus tomers. Abitibi was unchanged a and Anglo-Canadian Pul and Paper at Consoli dated-Bathurst rose Vi to More complete informatio was not available from the To ronto Stock Exchange due t computer problems. TRADING ACTIVE MONTREAL (CP) Price on the Montreal stock marke climbed higher in active tradin today. Industrials highlighted t h advances in morning .tradin while oil prices were mixed an banks steady. Distillers Seagrams gained to ?49V4, CPR to an Inco Va to Up were Boya Bank to Abitibi Vi to and Bell Canada to Among senior oils, Pacific Pe- troleum slipped to an TransCanada PipeUne Vt tc Northern and Central Ga rose to Noranda was off to Cominco Vi to Dominio Textile Vt to and Hudson' Bay Mining and Smelting Vt t RALLY FIZZLES NEW YORK (AP) Stoc] prices slumped today in moder ate trading after an early rally fizzled out. By noon, the Dow Jones aver age of 30 industrial stocks hai' slipped 4.59 points to 753.90. In the first half-hour of trad ing, the market had posted modest advance, with the industrial average gaining 1.7 points. Analysts attributed the earr_ gains to a cut in the prime lend ing rate from 8 to per cen by one of the nation's larges banks, New York's Morgan Guaranty Trust. Easier credit which investors associate with' lowering of the prime rale, i considered by Wall Street to b a major market stimulant. The Associated Press 60-stock average was off 1.2 at 253.4. Among Canadian issues Dis- tillers Seagrams added Vi tc Dome Mines put on t and Genstar was up Vs I Losers included Hudson Bay Mining off at and Ino down at On the American exchange Brasean was up at and Jupiter put on at Cana dian Javelin dropped to and Scurry Rainbow was off Hog Prices EDMONTON (CP) Closing prices Friday provided by the Alberta Hog Producers' Market- ing board: Edmonton: quoted 26.73 to 27.15, average 27.04. Red Deer: quoted 26.85 to 28, average 27.M. Calgary: quoted 27.15 to 27.35. average 27.24. Lethbridge: quoted 27.10 to 27.30, average 27.19. Lloydminster: No sales. Grando Prairie: No sales. Hogs sold 3397. Pro v i n c i a 1 average 27.15. Sows sold 25. Av- erage 17.16. FOR RENT Building with Sq. Ft. or Less located on 3rd Avenue with good parking Feasible for any type of buiineu Write Box 24, Lethbridge Herald FOR SALE by OWNER Large executive 1330 sq. ft. Bungalow with 4 bed- looms. Each floor fully developed, heated Jwimming pool, garage Will i ike imoller home in IrfldV TERMS AVAILABLE 1050 llth STREET S., LCTHBRIDGF Phone 328-2894 for appointment Canada's Industry- Must Cut Prices OTTAWA CP) The Eco- nomic Council of Canada says output-per-man in C a n a d i'a n manufacturing is as much as one-third lower than in other countries, although produci prices are as much as 10 per cent higher. The council made the observ alion in a study of productive efficiency in Canadian indus- tries and services during 20 post-war years and recom- mends that both government and business combine forces to correct this failing. The study, part of the national advisory body's seventh annua review of the economy, finds that Canadian enterprise with high efficiency cal products and leather manu- facturing are so in orbit around larger-scale mar- kets that facilitate increased specialization i n production which, in turn, promotes rela- tively high levels of productiv- ity. "And the latter, in turn, tenii to permit lower prices in comparison with the Unitec States, thus laying the basis for more competitive and sturdier growth" the eoundl says. While studies of components of growth in various industries are incomplete, analysis indi- cates that high rates of produc- tivity are not necessarily de- pendent on heavy capital invest- ment or big-scale operations. MUST CUT PRICES To compete in world markets, Canadian industry will have to aim for low costs and stable prices. Analysis shows both are associated with high productiv- ity. Among fast-growth industries in Canada, services and con- struction showed the greatest rate of price inflation and low rates of growth in productive ef ficiency, the study shows. Both depended for growth mainly on expanded labor forces. The insur- ance, real estate, community, business and grown to account for about 60 per cent of both employment and output in Canada. But measurement is difficult No Quick Settlement Forecast DETROIT (AP) Top offi- cials of the United Auto Work- ers returned to Detroit today tc prepare for a resumption ol contract talks with strikebound General Motors Corp. The negotiations are to re- sume Tuesday, the start of the second week of the strike. There have been no national-level ne- gotiations since contracts be- tween GM and the UAW expired at midnight last Monday night and the strike by auto workers in Canada and the United States began. Leonard Woodcock, president of the UAW, told a television audience Sunday that there is "no quick settlement in view." Trust Company Slashes Rate NEW YORK (AP) Morgan Guaranty Trust Co., the fifth largest U.S. bank, said today it was cutting its prime interest rate to 7% per cent from 8 per cent. The prime rate is the rate Danks charge their largest and most creditworthy customers. While First Pennsylvania Banking and Trust Co. of Phila- delphia and several smaller banks have cut their prime rates in recent weeks, Morgan Guaranty is the first major New York bank to do so. The coun- try's banks generally follow ths >rime rate set by the major New York banks. Potato Futures WINNIPEG (CP) Trading was active in the Maritime potato futures market Friday. Open High Low Close Nov 2.25N ,fer 2.55A Apr 2.73N May 3.19A for service Industries, analysis indicates then- productive effi- ciency declined in the 20-year survey period'. In wholesale and retail trade, which grew to account for one of every six Canadian employ- ees efficiency growth was slow compared to the whole econ- omy. Mining, including petroleum has become more dependent on capital investment for output growUi. Employment was static and advances in productivity were slight in the decade to 1968. TWO BETTER THAN U.S. Only two Canadian industries and about a dozen compared, showed up as more efficient than U.S. counterparts when output was measured against input in the form of. labor, capital, fuel and materials. Sawmills were rated 21-per- cent more efficient than U.S. counterparts, the iron and steel industry 11 per cent more pro- ductive. Wheat Exports To Set Record CALGARY (CP) A num- xr or grain soles to foreign countries will add up to the largest wheat shipment for the first five months of a crop year and official of t h e Cana. dian Wheat Board said at the weekend. Norman A. Hope of Winni- peg, co-ordinator of transpor- tation, said several sales in the last six weeks could pour as mich as million into the Prairie economy by Chirstraas. The hoard, Mr. Hope said, has orders for 400 million bu- shels of wheat to fill between Aug. 1 and Jan. 1. He told the annual meeting of the Association of Operative Millers Saturday that a "com- Beef Futures WINNIPEG (CP) The Win- nipeg live beef futures market was moderately active Friday with the September future 10 points higher than the previous close and the January two points lower. Open High Low Close Sep 29.50 29.50 Nov 29.00 Jan 29.00 29.00 28.92 29.02 MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Hoadhouse and McCuaig) LAST BID OR SALE a.m. Quotes) a.m. Quotes) a.m. Quotes) WESTERN OILS Almlnex 5.35 Asamera 16.75 Banff 12.00 D P Oil and Gas 4.70 Cdn Soulh 4.15 Cdn Export Gas i.OQ Cdn Grldoll 9.10 Cdn Home Kam Kofla Lake Onr P Cdn In G and 0 MGF Manage Menler..... Pacific Pels 37.50 T1.B7V4 9.00 1.47 Cdn Superior Cenlral Del Rio Chlerian Dynamic Pin French Pete ___ fi.Hit Great Plain! 29.00 Mill Clly 2.20 New Con 1.08 Nutnac........ 7.55 Permo........ Pelrol pinnacle Place Gas Ranger Scurry Rainbow Spooner West Decalla CALGARY Husky Oil B fit 37.12'A Invest Gr Husky ON War 6.a Invest Mulual Inter P Pipe W IDS Vent Interprov S 1nd P 6.B7V'j Mutual Ac F Jetferson Lake Mulual Gr F Joulel 7.12 Mulual In Kaiser Res Nat Res 1.70 Principal Gr l.PO ProV StocK 2.00 Regent F 52 Roylund VANCOUVER pleto change-around" In recenl months in the intcrnaUonnl grain trade made it possible for Canda to pick up additional orders. The total sales includes ehlp- menLs to Russia and Rec China, filling out orders those countries were committeed to In recent ycara, and credil sajc orders to under-developed countries including Egypt, Sy- ria, Brazil, Peru and some oth- U7 .95 1.2J 13.50 22.75 1.25 Acroll Anaconda Pele .10 Gaz Melro Pfd A 57.00 Borons Oil.....06 Tr Cdn P 2? 25 N Conllnenlal .0216 Tr Cdn P Pfd 40.25 MISC INDUSTRIALS Tr Cdn P Pfd A 58.50 Atqo Indusl Aqualaine Rank Organization 14.fl7ya Anuk Shell Inv 29.50 Arclic Mining .2 Shell Inv Pfd 28.50 Alias Explor .8 Shell Inv WIs 12.67'A 9eth Copper 15.3! 3.75 Bornlfe Ridga .1. 2.60 Block Bros 3.7, 17.3716 Brenda 10.S .A1 B.C Sugar 15.2 32 B.C. Sugar Pfd 15.Ji .......10 Capf Inler 3-fli PIPELINE STOCKS Churchill Copper 2.4 Alia Gas Tr L A Coronallon Cr l.Qi Alfa Gas (Nat) 21.75 Cresibrook Far 1 6.1: Inland Nat Gas CroVden .......3 N and C 13.75 Daly Varden.....5' N and C B Pfd 28.25 Dynasly Metro Fndako SicH's Rainier W Cdn Seed Pro White and Yuk Western Warner Madison Rexdale 11.00 24 75 Br" New Corp A BO Cdn Brew A Pfd 29.50 Cdrt Hy Carbons 15.25 .._ _____ Cdn Pac Inv Pfd 23.12'A AM Cdn Com CPR Pfd Al Cdn Divld Cr Nest Indust 46.00 Al Cdn Vent; Cygnus A 5.72W Amr Gr F Cygnus B Cdn Gr Gt Cdn Oil Sands 4.00 Cdn I rivesf F Home Oil A 70.25 Col Mulual Home Oil B ......20.75 Home and Pit 2.10 Hudson Bay Co 15.00 Hudson Bay Oil 40.00 Hudson Bay Oil P 11.50 Giant Mascot Granisle Key Indust Growers B Hy's Interior Brew Tr Cdn P War Tr Prairie Western Pacific Jericho.......... MUTUAL FUNDS Kamloops Copper AG Special 2.15 Lornex...... j.64 709 Ly I Ion Minerals 7.51 8.21 Madrona 3.25 3.56 New Cronln 4.40 4.83 New Imp Mines 4-97 5.46 Okanagan Helicop 4.60 Primer 5.27 5.79 Pyramid Comnw Infer 11.28 13.36 Silver Slandard 2.3B 3.14 T C Exp'lor 4.95 5.41 Trojan Cmnw Lev Carp Invesf 5 F dJ8