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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 24, 1970, Lethbridge, Alberta Thunday, Septimbir 24, 1970 THE UTHBRIDGE HERALD 17 Market Advances In Early Trade TORONTO (CP) The To- ronto stock market was up mod- erately in mid-morning trading today as it entered its second consecutive advancing session. On index, industrials were up .58 to 164.42 and western oils 2.44 to 186.79. Golds dropped 1.63 to 155.85 and base metals .05 to 95.86. Volume by 11 a.m. was shares, up from at the same time Wednesday. Gains outnumbered losses 121 to 59 with 164 issues unchanged. International Utilities was up to Bow Valley to tTO, Chrysler to Home A to Inco to Canadian Industrial Gas to Federal Grain to Shell Canada to and Ca- nadian Equity Vz to DuPont was down 2 to The company declared a quart- erly dividend of 12% cents, down from 25 cents in the pre- vious quarter. Among other declining issues, Roman dropped 35 cents to Agra %-to and Sie- bens 10 cents to PRICES MIXED MONTREAL (CP) Prices were mixed in light trading today on the Montreal stock market. At 11 a.m., the composite index was up .87 to 163.32, Massey-Ferguson was off Ve to .The company reported a nine-month loss of million this year. Among senior mines and oils Noranda was up to are Pacific Petroleum Vt to Cominco was off to International Utilities gained to while Du Pont was to On index, industrials wens up 1.3C to 167.34, utilities .16 to 138.85 and papers .07 to 88.91 Banks were off 1.21 to 176.50. Combined volume on the Montreal and Canadian Stock Exchanges was shares at 11 a.m. compared with shares at the same time Wednesday. HEAVY TRADE NEW YORK (AP) The stock market today posted a moderate b u t broadly-baset gain in heavy trading. At noon the Dow Jones aver age of 30 industrials was aheaarely steady. Kind and qual- ty considered. The few butch- er cows and stock heifer calves on offer sold steady. Choice steers 27.50 to 20; ;ood 27 to 27.50; medium 26 to 27. Choice heifers 26.50 to 26.90; good 25.50 to 26.25. Good cows 20.25 to 21.25; me- dium 19 to 20. Good stock steer calves 36 to 9.25. Calgary Livestock CALGARY (CP) Receipts o 11 a.m., head, mostly ;ood and .choice steers anc raters. Trade moderately ac- ive. Slaughter steers sold 25 BILL ROMANCHUK Rejoins United Motors Sales Staff! It gives me pleasure to announce to my many friends and customers that I have reioined United Motors after a short leave of absence. Please feei wel- come to call on me anytime for assistance In the selec- tion of any motoring need you may have. I offer 15 years experience. COMPUTER ACCOUNTING AND MANAGEMENT LTD. Data Processing Services 507 CANADA TRUST BIDG. TELEPHONE 328-7883 Hog Prices EDMONTON CP) Hog srices to 11 a.m. today supplied y the Alberta Hog Producers' larketing Board: Edmonton: Quoted 26.50 to ,6.65, selling 26.65. verage Wednesday 26.68. Red Deer: Quoted 26.60 to 3.65, selling 26.60. Average Vednesday 26.70. Calgary: Quoted 26.50 to 6.60, selling 26.50. Average Wednesday 26.54. Lethbridge: No market. L1 o y d minster: No market. Wednesday 26.05. Grande Prairie: No market, .verage Wednesday 26.35. Total togs sold to 11 a.m. 714. otal Wednesday aver- ge 26.64. Sows 16.75. Potato Prices (CP) There was a light trade in May futures on the Maritime potato futures market Wednesday. CLOSE TOE. Nov 2.25N 2.25N Mar 2.55A 2.S5N Apr 2.73N 2.73 May 3.19 3.17 Beef Futures Winnipeg (CP) The live beef futures market was in- active Wednesday. CLOSE TOE. Nov. 28.70N 28.70N Jan 23.90B 28.-30N cents lower with sales to 28.50. Steers weighing more than Ibs. were discounted about 25 cents. Heifers were 25 cents lower, cows scarce and steady. Bulls steady. Choice steers 27.75 to 28.20, good 26.75 to 27.50, medium 25.75 to 26.50. Choice heifers 26.50 to 27, good 25.25 to 26.25, medium 24 to 25. Good cows 21.50 to 22.40, medium 20 to 21.25, canners and cutters 17.50 to 19.50. Good bulls 24.25 to 25.80. Replacement cattle were in short supply and were main- ly heavy fleshy steers selling steady. Good feeder steers 750 Ibs. and up 27.50 to 29. No stock or slaughter calves on of- fer. Hogs base price 26.50 to 26.60. Grain Market; Winnipeg Grain Prices WINNIPEG (CP) Trading was light in all commodities on the Winnipeg Grain Exchange today. Offerings were light and prices remained buoyant. Hedge offerings were light fa oilseeds, with prices mostly stronger. Locals and commis- sion houses were buying and there was some exporter inter- est. Oats and barley had a light local and domestic shipper trade, with some exporter in- terest in barley. Rye was most- ly inactive. Clearances of Canadian wheat Wednesday included bushels to China, to Japan, to the Uni- ted Arab Republic and 635600 to the United Kingdom. Volume of trade Wednesday included bushels of flax, of rapeseed and of rye. Prices for Class Two wheat for export to countries outside IGA: 1 Nor 2 1.7616; 3 4 1.66; 1 Durum 2 1.7614; 3 4 1.6344; IGA prices: 1 Nor 1.7814; 2 1.7614; 3 4 1.66; 1 Durum 1.7914; 21.7614; 3 ....High Low Close ..Flax 267% 257 24114 248 Oct 27114 NOT 260% Dec 244% May 25214 27114 260% 244% 25214 Rapeseed Vancouver Nov 238V4 23414 237 Jan 231 227% 231 Mar 22814 225 22814 May 227% 224% 227% Rapeseed Thunder Bay 95% 90% Oct Dec Apr Oats Oct Dec Jay Jly Barley Oct 125% Dec 124% May 12614 Jly Rye Oct. 106% Dec May Jly 109% 116% 90 125% 125% IDS 109 237 214 243% 95% 125% 124 126% 127% 106V4 116% 118% Marcil Heads Commissionaires WINNIPEG (CP) Lt. Cmdr. Andre Marcil of Mem- real was elected president ol he Canadian Corps of Com- missionaires at its 35th annual meeting here. The corps this past year em- ployed veterans with 'a (ayroll of nearly million. Rate Return 'Below Fair Level' Gas Price Hike Supported CALGARY (CP) A 13-per- cent price increase requested by Canadian Western Natural Gas Co. Ltd. will still leave the company's rate of return telow a fair level for utility companies, an economic con- sultant told a public utilities board hearing Wednesday. Radford Schanpz, director of Oster Economic Consultants Ltd., said a fair rate of return would be between 8.75 and 9.35 per cent, but the proposed in- crease in natural gas prices would give the company a rate of 8.67 per cent next year. This would drop to 8.17 per cent by 1972. since the last price increase in 1959 and difficulty in raising capital had squeezed the firm financially. The market for natural gas in the 91 communities in south- ern Alberta that are served by western natural is nearly sa- turated, he said, and the com- pany has little prospect for growth. "The evidence is clear that growth in earnings per share has substantially lagged behind other gas and electric companies-" The company earnings in- creased 36 per cent a share in the last decade compared with 240 per cent for other gas com- panies and 100 per cent for electric companies. World Record Tuna Catch Reported NORTH LAKE, P.E.I. (CP) Mel Immergut of Brooklyn N.Y., caught a giant bluefin tuna weighing pounds, a possible world record, on his 'irst fishing trip off here. It! the big fish was boated In accordance with the rules of :he International Game Fish Association, it is a world rec- ord. Duncan M. Hodgson of Mon- treal set the exisiting offical record with a 977-pound tuna caught in St. Ann's Bay, N.S., in 1950. The tuan caught Wednesday was reported to be nine feet nine inches long with an 85- uich girth and was caught with a mackeral bait. 31 CHOLERA DEATHS JAKARTA (AP) Thirty-one persons have died in a cholera jpidemie in the Indramaju dis- trict of West Java, the official Antara news agency reported Thursday. "The broadside of its finan- cial integrity has been fully ex- posed to erosion and in my judgment this deserves a reg- ulatory consideration." The utilities board now al- lows the company a rate of re- turn of 7.75 per cent. At the hearing Tuesday, the board gave interim approval to the 13-per-cent increase which woidd raise the average home- owners natural gas bill to annually. The board is not expected to rule on the increase until after it becomes effective Feb. 1, 1971, but if it decides against the raise, a refund would be made to customers. Bank Shutdown Likely To Spread DUBLIN (AP) A bank shutdown in the Republic of Ire- land is threatening to spread to Northern Ireland where another employees belong to the same union. "It's quite in the cards that clerks in the northern offices will be asked not to handle business from an of- ficial of the Bank Officials Asso- ciation, which represents the employees. Since the 900 banks in the Irish Republic closed April 30, more than employees have become idle. The impasse began when bank employees demanded a 25-per-cent pay raise on weekly safaris which range from tile equivalent of for clerks to for managers. They began a slowdown to en- force their demands, the banks claimed they couldn't function and closed down. Employees called it a strike. DEMANDED BACK PAY A labor court recommended 2214 per cent and the employees acepted, but demanded back pay for the time they have been idle. The banks refused, and there's no sign of a break in the deadlock. Despite the protracted dis- pute, cash is in plentiful supply. Cheques and bank drafts are ac- cepted readily by saloons and stores. "We take in so much cash it would be a problem to store It all said Pat Quinn, owner of a Dublin supermarket. "C h e qu e s and government pay orders are safer and are of no value to burglars." Almost all Ihe idle em- ployees have found temporary work, either in Ireland Or abroad. Officers Named For Press Club EDMONTON (CP) Bill Rodger, a news editor with Radio Station CJCA, is the new president of the Edmonton Press Club. Jean Palenaude, an an- nouncer for the CBC, is rice- president; Laverna Salloum, a freelance broadcaster and pub- lic relations officer, is secre- tary; and Peter Tadman, also with CJCA, is treasurer. Mr. Rodger said today the club will be opened officially next month in its new head- quarters in a downtown hotel. DIVIDENDS By THE CANADIAN PRESS Simpsons-Scars Ltd., class A, 12 cents, Dec. 15, record Nov. 16 JDcttatron and tjystems 1003 4th Avenue S., tethbridge Telephone 328-4426 cJD ata iJ ervices SCHOOL BANS DIXIE LANDIS, N.C. (AP) About 250 of the 900 white pupils of in- tegrated South Rowan high school boycotted classes Wednesday in protest of a rul- ing that the school band could no longer play Dixie, which has been the school's athletic fight song for years. Tlie principal, II. A. McCreary, banned the tune at the sclijol, which has 100 black pupils. THE CURTAIN'S on the fabulous all-new 1971 MODELS You're Invited See GM's answer to TRUE ECONOMY NEW FOR 1971 CHEVROLET NOVA CHEVELIE ju- rJffSSSff 9.00 A-M. 1971 Vega On Display- Saturday, September 26th Available in Standard Se- dan, Panel Express, Hatch- back Wagen and Hatch- back Coupe. MOTORS INSURANCE CORPORATION (CHEVROLET OLDSMOBILE JMain Garage and Showroom Phone 327-3147 Putting You FIRST Keeps Us FIRST ;