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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 25, 1970, Lethbridge, Alberta Stock Prices Up For Third Session MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Dohcrty, Roedhouse and McCuaig) LAST BID OR SALE a.m. Quotes) a.m. Quotes) a.m. Quotes) TORONTO (CP) Price were moderately higher in mic morning trading today as th Toronto stock market enterec its third consecutive advancin; session. On index, industrials were up .66 to 165.83, golds .45 to 156.18 base metals .11 to 95.77 wesern oils 1.22 to 189.56. Volume by 11 a.m. was shares, compared with at the same time Thursday. Gains outnumbered losses 14! to 89 with 165 issues unchanged Strongest sectors were bever ages, pipelines and real estate. Among advancing stocks, Fal conbridge was up 2% to Dome Pete 1 to Moore to Consolidated-Bathrst t Walker-Gooderham to Brascan to Deni son 1 to Chieftain IVz to Patino to and Sher- ritt to Hudson's Bay Co. down to Trading in the issue was halted for 15 minutes this morn- ing to match orders. Among other declining stocks, Scottish and York was down to Noranda to Con. sumers' Gas Ys to Hud- son's Bay Oil and Gas to and BP Oil and Gas five cents to LIGHT TRADE MONTREAL (CP) Prices were mixed in light trading on the Montreal stock market today. Pacific Petroleum, off 'A to is predicting 1970 net in- come of about million or 78 cents a share, up from million or 7o cents last year. CLL, which did not trade, an- nounced it will start construc- tion immediately of a liquid xantHajbe plant at Thompson, Man., for completion by early 1971. R. D. Beyan, general mana- ger industrial chemicals, said this will be CTL's second liquid lanthate plant, the first coming into production at Copper Cliff, Ont., next January, and that these will be the first such plants in Canada. Among senior mines and oils, Falconbridge was up to and International Nickel to Among industrials, Consumi Glass rose to arid Bra can Ltd. to while D Pont was off to an Hudson Bay Co. to On index, industrials were u .37 to 168.23, Utilities .77 139.95 and the con_posite .39 164.16. Banks declined .31 176.31 and papers .11 to 88.86. Combined volume on th Montreal and Canadian Stoc Exchanges was share at 11 p.m. compared wit at the same time Thuri day. SLENDER GAIN NEW YORK (AP) Sloe prices made a slender gE today in very brisk trading. At noon the Dow Jones aver age of 30 industrials was ahea 0.75 points at 760.06. Earlier had been up 3 points. Among Canadian issues, Di; tillers Seagrams picked up added Hudson Bay Minin to and Inco put o y4 to Canadian Pacific dropped to and Dome Mines was of 't at On the American exchange Bascan was up at Cana dian Javelin added at ?11% Jupiter Corp., was up at and Scurry Rainbow was up at Hog Prices EDMONTON (CP) Price, o 11 a.m. provided by the Al berta Hog Producers' Market ing Board: Edmonton: Quoted' 26, sell age Thursday 26.60. n g 26. Average Thursday Red Deer: No market. Aver 26.22. Calgary: Quoted 26.05 to 26.30, selling 26.05. Average Thursday 26.50. LetJftridge: Quoted 26.05, elling 28.05. Average Thursday 125. L! o y d minster: No market. Average Thursday 26.66. Sows 16.45. Hogs sold to 11 .m. 410; Thursday Pro- vincial average Thursday 26.20. FOR RENT Building with Sq. Ft. or Less Locotcd on 3rd Avenue with good parking Feasible for any type pf business Write Box 24, Lethbridge Herald ACROSS CANADA BY THUMB-Thc open road meant free- dom and adventure for thousands of. young people this summer. Hitchhiking was the way to meet new people, see the country and live without both the restraints and com- forts of home. It also meanf cars ignoring you, drivers fry- ing to take advantage of you ond lonely hours spent stuck at some out-of-the-way spot. Who took to the road and why? A young writer who spent nine days thumbing his way from Montreal to Vancouver tells what it was like. IN YOUR LETHBRIDGE HERALD WEEKEND MAGAZINE WESTERN OILS Almtnex 5.B1 Asamera 18.M Banff 12.00 D P Oil and Gas 5.15 Cdn South -U0 Cdn Export 5.00 Cdn GrldoII 9.10 Cdn Homestead 8.80 Cdn Ind G and 0 Cdn Superior 37.25 Central Del Rio Charter Chleffan Dynamic Pets French Pete Great Plains Mill City New Continental N Cdn Oil Numac 12.50 9.75 1.42 29.25 2.25 1.07 6.75 7.90 .92 1.52 Husky oil B Pfd 37.50 Cmnw Inter 11.33 12 Husky Oil War 6.75 Cmnw Lev 3 Inter Prov P Wts Corp Invest 5.10 5 Interprov S and P 6.B7W Corp Invest S F 4.55 4 Jefferson Lake 12.00 Dreyfus F U.S. 10.56 11 Invest Gr ?.66 10 Invest Mutual 4.85 5 Mutual Ac F 4.73 Mutual Gr F 4.20 Nat Res 6.83 7. N W Fin 3.5? 3. N W Gr 4.3B 4. Royfund 5. United Ac 4.32 4, VANCOUVER Kaiser Res 11.50 Kam Kotia 1.60 Yake Ont P Cem 1.90 Mentor .......52 Newconex 6.20 Pacific Pete J9.25 Rank Organization 15.25 Selkirk Hold 10.50 Shell Inv Shell Inv Pfd 29.50 Shell Inv Wts Sicks' Rainier W Cdn Seed Pro White and Yukon 17.00 CALGARY Acroll 1.2! Anaconda Pete Barons oil N Continental Plains Pete Western Warner .06 Pen..... Petrol Pinnacle _ Place Gas...... 1.26 Ponder .........60 _______ Ranger Madison Scurry Rainbow 23.00 PIPELINE STOCKS Spooner 1.92 Alta Gas Tr L A 47.25 .....Alia Gas Tr L Pfd 72.00 Alta Gas (Nat) 22.00 Inland Nat Gas N and C N and C B Pfd Anuk 3.6214 Arctic Mining 2.55 Atlas Explor Beth Copper Bornlte Block Bros Brenda B.C. sugar .21 3.60 10.25 15.25 .02'A B.C. Sugar Pfd 15.00 Spoon Western Decalla 6.5Q MISC. INDUSTRIALS Atco Indus! 11.00 Aquataine 2d.75 Br New Corp 4M Cdn Brew A Pfd 30.00 Churchill Copper Coronation Credit Crestbrook For I Croyden Dolly Varden Dynasty Giant Mascot ___ 2.85 Key Indust 14.37VJ Hy's Gaz Metro 28.50 5.50 29.50 40.25 Inferior Brew Jericho Kamloops Copper Lornex Madrona...... New Cronln Cdn Brew B Pfd 35.62'A Tr Cdn P Cdn Hydro Car 15.00 Tr Cdn P Pfd Cdn Pacific I P 24.50 Tr Cdn P Pfd A 57.50 CPR Pfd 8.50 Tr Cdn P War .9.60 Cygnus A 5.37'A Westcoast Tr New Imp Mine! Cygnus B Pacific okanagan Helico Gt Cdn Oil Sands 4.00 MUTUAL FUNDS Primer 21.75 AGF Special 2.21 Pyramid Al Cdn Com 6.1O 7.01 Silver Stand All Cdn Divld 7.S3 8.34 T C Explor All Cdn Vent 3.29 3.59 Troian Amr Gr Fund 4.54 4.98 Western Mines Cdn Invest F 4.20 4.62 Westcosst Res Col Mutual 5.40 5.93 Utica Home Oil A Home Oil B Home and Pit 2.05 Hudson Bay Co 74.75 Hudson Bay Oil 39.50 Hugh Russell Pfd 20.00 Husky Oil 13.25 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) a.m. QUOTES) a.m. Quotes) INDUSTRIALS Abifibi Alcan....... Algoma Steel AIco Ind Allan Sugar 'Bell Tel..... Brazil True B.C. Tel..... Burns B.C. Forest B.C. Sugar CAE Ind..... Cdn Brew Chemcell Col Cellulose Cal Power Coronation Credit CWN Gas Cdn Indust Canada S S Cdn Marconi Cdn Vickers Chrysler..... CPR........ ilnco Cons Bath Cons Gas Disr Sea Dom Bridge Domtar Dom Textile Dom Stores Dome Pete Fam Play It Cdn Oil Jen Motors it Lakes Pap .ulf Oil Cda Hawker Sid fluron, erle Hiram Walk rnperia! mperlal Tob nt Nickel nt Pipe..... nv Gp A nt Utilities ndust Accept -aurenlide telly Doug A t-oeb....... .oblaw A Metro Stores Massey Ferg AcMiHsn Bloe Aoore Corp Poisons A Molsons B North, Cent 22.37'A Pemblna Pp 13.00 11.00 6.2S AU5 15.25 .51.M Power Corp Price Co Rolhmans St Law Corp Shell Cda Simpson's 'A Simp Sears 23.00 Steel of Can Selkirk A 4.75 Texaco..... 7.75 Traders Gp A Trans Mtn Pp 5.50 Trans Can Pp Union Gas Union Oil Versatile Mfg Westeei Union Car Woodward's A Zenith Elec BANKS Can Imperial Montreal..... Nova Scotia Royal Tor-Dom..... ___ MINES Acme........ 13.00 Advocate Asb. Akaitcho..... Area Mines Belcher Iron Black Bay Bralorne 14.00 14.75 21.00 5.75 7.J5 11.00 19.00 16.75 20.75 22.50 10.50 25.00 10.00 Falconbridge Frobex First Maritimes Giant Y.K..... Gunnar Granduc Headway R.L. Hollinger Hud. Bay M-S Hydra Ex..... Highland Bell Iron Bay..... Iso........... I let Q'jebec 24.75 1.10 10.00 9.75 23.75 3.25 6.00 28.25 64.00 21.00 70.25 17.50 49.25 15.75 11.25 69.00 9.75 4.05 73.00 29.25 14.50 36.50 3.60 9.50 14.25 16.50 1.55 19.12V2 Broulan 17.50 2.00 16.00 42.75 J8.00 Bethlehem Brunswick Canada Tung. Central Pat. 14.87% Chimti 43.62V2 Conwesf 24.62W Cons. Rambler 7.25 Coin Lake 29.50 Cochenour 14.87'A craigmont DIckenson Mines 5.50 Denison Mines 5.25 Deer Horn 6.00 D'Eldona 26.00 Dome Mines 9.8714 Donalda Discovery Mines 31.50 East Malar-tic 14.37'A East Sullivan Kerr Addison Key Anacon Labrador Lake Shore Leitch....... Langis Silver Macassa Madsen R.L. Malartic G.F. Martin McNeely 20.37V2 Maybrun 15.50 Maclntyre Mela......... 22-75 MIdrim....... 19.62'A Mogul New Athona New Calumet New Imperial Norihgate Opemiska..... Osisko....... Patino....... Placer Dev. p.c. EXP. Quebec Man Rayrock 31.62V2 Radiore....... 2.00 Rio Algom Roman Corp. Silverfields Shcrritt Gordon .lovi silver Miller .55 Steep Rock Siscoe........ Tek Corp...... Texmont...... Upper Canada Wesiern Mines Wright Har. Willroy....... Windtall Yellowknite Br. Zenmac...... 2.00 .43 1.92 .-12 .07 1.60 .24 16.00 4.65 2.12 1.21 12.00 23.75 .08 1.20 57.00 .25 1.30 1.20 5.40 138.50 .25 1.05 7.60 1.45 7.80 12.00 35.00 20.25 .22 2.75 3.15 1.85 5.75 .31 33.12'A 3.30 1.42 .OS 1.26 .85 .70 13.00 -26W 153.00 .33 9.25 -15Vi .27 2.00 29.50 10.00 12.25 .31 .32 16.12% 6.00 2.05 18.25 .07 2.SQ 2.10 6.25 .40 1.72 3.90 1.41 1.32 -12% .09 NEW YORK STOCKS Supplied by Richardson. Securities of Canada Amr T and T Montgomery Ward 27.62M 20 Golds 155.96 up .23 2H-, Sears P-87% 10 Base Met 9.5.10 up M Bth Steel Sfd Oil of N.J. 65.87'A 15 W Oils 1B7.70 of? Chrysler 2B.OO TeXflS Glllf 117 Vntiima I nnn Chrysler 2B.OO Comsat JS.OO )upont 119.50 ieneral Motors 73.00 'Ulf 28.00 Texas Gulf 117.25 Volume Texas Co 31.42VMEW YORK AVERAGES Woolworth 34.25 30 Indust 759.79 up Westinghouse Elec W.25 20 Rails 1-W.67 off .71 U.S. Steel 32.12Vj 15 Utilities 10896 off 06 nt Harvester 23.3714 TORONTO AVERAGES 4S Stocks 11 off .M Kenn Copper 42.75 20 Indust 165.7B up .61 Volume Friday, ZJ, 1V70 TH8 IETHBRIDGJ HERALD 17 The Tax Column Tax Disclosure Should Be Demanded By I. II. ASPER The controversy over Consu- mer Affairs Minister Ron Bas- ford's recent Boston speech continues. The gist of his re- marks was that the business community frequently produce unnecessary products and by the power of pervasive adver- ting sells them to the public. To combat this unworthy practice, he suggests that busi- less should voluntarily restrain :he amount of advertising it in- iects into the cost of consumer joods. The Minister then warn- ed that if business didn't volun- den) taxes which are burled In the price of goods bought by cons u m e r s. Few are even aware of the size of the tax component in, the price of those goods. In fact, most consumers don't realize the existence of the mammoth hidden tax sys- tem. If the Consumer Affairs De- partment principle of full db closure were applied to the tai system, the 12 per cent manu facturers' sales tax, the tobac co, liquor, customs, gasolin and a host of other hidden taxe. would be disclosed as part o the cost of each item bough These taxes are, for the mos part, paid unknowingly by th Grain Price Review arily limit its advertising push, the government might tep in and legislate the amount hat one can spend on product womotion. The technique suggested by Ir. Basford was that the tax rules might be amended to pro- ibit the deduction of certain dvertising costs. That would ave the effect of doubling the ost of advertising, and would likely act as an effective deter- ent for most companies; unless ley were poor sports and pass- d the extra cost occasioned irough the tax penalty on to le consumer, in higher prices. If the Minister's plan were arried out it wouldn't be the rst time the tax rules on ad- ertising expenses were adjust- d to produce a non tax effect. ive years ago, the Income Tax ct was amended to prevent ompanies from deducting ad- ertising expenses from their income where the advertising ras done in non Canadian pub- cations selling into the Cana- :an market. The idea wasn't to increase overnment revenue by increas- ig the taxes of the advertisers, was to render the cost of ad- erfeing in foreign (read Amer- can) periodicals prohibiti v e ompared with advertising in a ax deductible way through Ca- adian magazines. The tax was esigned to help the ailing Ca- adian publications. ROTECTION MOVE In the present situation Mr. asford isn't aiming his tax at assisting an indus- y; rather, his object is to pro- ct the Canadian consumer, hile his goal may be laud- his c o m m en t s have ready attracted considerable e from those who fear that his zeal to correct the .things at are wrong he may also de- troy the things that are right th the non-government econo- ic system. [t is not a new debate, nor is the purpose of this commen- ry to evaluate the pros and ns of the big brother syn- ome. Nevertheless, it's diffi- !t to reconcile Mr. Basford's dour in compelling business be frank and open in its deal- gs with the public, as it ould, with an apparent disre- rd of the same high principle government in its taxing pol- es. :DDEN TAX Each year the Federal and tovincial governments collect any billions in indirect (hid- Winnipeg Grain Prices continued with a firm undertone. WINNIPEG (CP) A sharp flurry in Vancouver and Thun der Bay rapeseed late in-the session on the Winnipeg Grain Exchange today shot most fu tures up four to six cents. The November future in Vancouver rapeseed was up as high as 14 cents. The flurry was attributed to aggressive buying by a large international house as well as exporter buying and short cov- erings. Offerings were light. Some short coverings in Oc- )ber flax pushed prices up three cents. Other futures were above the market. Trading in oats, barley and rye was moderately active and Potato Prices WINNIPEG (CP) The Marl- me potato futures market was active Thursday, with offers March at previous close vels but not buyers. OPen High Low Close ov 2.35N ar 2.55A Farm Implement Business Slumps May OTTAWA (CP) Sales farm equipment and repa 2.73N parts in Canada slumped by 3.19N per cent to a value Bachelors Bachelorettes ARE YOU TIRED OF APARTMENT LIVING? YOU COULD OWN YOUR OWN HOME IN 7 YEARS Let FRED, JOHN or MURRAY show you exactly how you could have your own home In 7 years and have NO TAXES TO PAY! Here Is The Perfect Ansiver 5900 NEW 1970 PARAMOUNT-10'x44' C 2 Furnished. REGULAR WEEKEND CLEARANCE 18' ROADRUNNER f CONVENIENT TERMS '3800 AVA'UBIE TRAVEL TRAILER USED ONLY 3 WEEKS Completely contained. Sleeps six. WEEKEND CLEARANCE THIS UNIT MUST GOI MID WEST MOBILE HOMES "Southern Alberta's Leading Mobile Home Dealer" East on Highway 3 (Taber Highway) Phone 327-1986 in the first seven months'of this year from the equivalent 1969 period. Figures published today by tbe Dominion Bureau of Statis- tics reflect tight credit condi- tions and a lack of ready cash among on the slow grain sales for two years. Sales of implements, equip- ment and parte were down in all regions except the Atlantic area, where the market picked up by more than 20 per cent to Among regional declines, those on the Prairies were hea.viest. Alberta sales dropped by 29 per cent to Saskat- chewan and Manitoba sales by about 22 per cent each to and re- spectively. Ontario business fell by al- most 13 per cent to Quebec by 18 per cent to and British Columbia >y almost 20 per cent to The number of combine har- vesters sold across Canada in lie seven months declined to 08 from 900, with only 201 pur- :hased in the four western prov- nces compared with 666 last ear. A total of tractors were in the West-com- ared with in Canada last ear, of them in the Prai- les and British Columbia. With forage acreage up on the rairies tliis year sales of auto- matic hay balers advanced in X! western provinces to lachines from last year, lough the Canadian total de- clined slightly from to Livestock Lethbridge Livestock AFTERNOON SALE Calgary Livestock CALGARY (CP) Receipts to 11 a.m., 675 head, mostly re- placement cattle and stock calves. Trade was active. Slaughter cattle on offer sold in line with Thursday's closing prices. Choice steers 27.75 to 28.10, good 26.75 to 27.50, medium 25.75 to 26.50. Choice heifers 26.50 to 26.80, good 25.25 to 26.25, medium 24 to 25. Good cows 21.50 to 22.25, medium 20 to 21.25, earners and cutters 17.50 to 19.50. Replacement cattle and stock calves were a mixed quality, meeting a good de- mand from local buyers with steady to strong prices. Good feeder steers under 750 Ibs., 32 to 34, 750 to 900 Ibs. 29 to 32 with sales to 33, 900 Ibs. up 27.50 to 30.10. Good feeder heifers 27 to 29.50. Good stock steer calves under 400 Ibs. 38 to 43.50, 400 Ibs. up 36 to 40.30. Good stock heifer calves 31 to 33.25. No slaugh- ter calves on offer. Hogs base price 2605 to 26.20. Overseas clearances of Cana dian wheat Thursday included bushels to Jamaica, 27, 066 to Pakistan, to Peru and to Singapore. Volume of trade Thursday In eluded bushek of flax of rapeseed and 277, 000 of rye. Prices for class two whea; for export to countries outsidf IGA: 1 Nor 2 3 1.62% 1.65% 1.76V4 4 1 Durum 2 1.7814; 3 I.erVt; 4 IGA prices: 1 Nor 2 3 1 Durum 1.79Vi; 3 1.67V4; 4 Low Close High Flax Oct 275 Nov 263'A Dec 247 May 255 Rapeseed Vancouver Nov 251 231 Jan 241 228 Mar 236% 222 May 234% 221 271 261% 242'A 25H4 272% 261% 242'A 251'A 231 228 222 221 Rapeseed Thunder Bay Oct Dec Apr Oa'- Oct Dec May Jly Barley Oct Dec May Jly Rye Oct Dec lay Jly 95% 90% 125% 128J4 107% 110% 95 90% 125% 124% 127 105% 107% 115 230% 222 227 95 90% 89% 92% 126% 124% 127% 127% 105% 107V4 115 118% Beef Futures WINNIPEG (CP) There was a light trade in tbe Winni- >eg live beef futures markst 'hursday with some contracts all futures at unchanged to 5 points over the previous Jose. Open High Low Close Vov 28.70 28.70 ah 29.00 29.05 29.00 29.05 lar 28.75 28.75 taxpayer. Because they now produce almost as much reve- nue as the direct income taxes, there is no valid reason that they should continue to be hid- den from public view. A few years ago, a retailer, tired of being blamed for ris- ing prices, startled his custom- ers by making the following full disclosure in advertising his goods: FINE LADY'S COAT- VERY REASONABLE Raw material, labor and overhead I 4A.M Custom tax on material 7.00 Manufacturer's profit 3.75 Manufacturer's corporation tax 3.75 Manufacturer's sales tax..... 7.25 Retailer's handling cost (Includ- ing property tax, business tax and licenses) 11.25 Retailer's corporation tax 5.00 Retail Sales tax 5.00 Retailer's profit 5.00 Total selling price (105.00 Governments are not moving toward the full disclosure prin- ciple in taxation. In the United States, Congress recently in- creased its airline ticket tax by 60 per cent from five to eight per cent. Not only is the tax hidden, it is a secret tax. Airlines are legally forbidden :o disclose the tax by showing he air fare plus tax break- down oh billings to customers. In Canada, the Federal Gov- ernment has agreed that as jart of Constitutional reform, ,he provinces will be given the right to levy indirect (hidden) axes, a right presently denied Iiem. If we accept the concept that this is the age of full disclo- sure and open government, it seems appropriate that the same theory should apply to axation. If that is so, all taxes, direct and indirect, should be drawn to the attention of the axpayer as is the case with the provincial retail sales tax. (Mr. Asper is a Winnipeg law- SPARE TIME INCOME lompany requires responsible man or woman to refill snack vending ma chin ei with national brand products. Can et dependable person excellent stcond ncome. Applicant must be honest, nergetlc, have serviceable car, devott to 10 hours weekly and bs abls to ivest to for Inventory nd equipment. Routes established. No elling. Mora Info provided If your efter contains details on self. When rltlng pleass Include phont number. Sunway Distributing Ltd. Suite 21000, Place di Vlllt Ottawa 4, Ontario THESE MEN ARE WANTED IN ALL TEN PROVINCES r...... Jack Rollingson, Walter Sherley, C.L.U. But They Came To Lethbridge And they came with experience, initiative, and prof essional dedication. Their job: to introduce Crown Life to Lethbridge, It shouldn't take long. Crown makes its mark fast with innovative plans and low rates. See for yourself. The new office is located at: 120 C North Mayor Magrath Drive Lethbridge, Alberta CROWN LIFE INSURANCE ONTAHIO ;