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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 27, 1971, Lethbridge, Alberta Market remains in price slump Chamber session sets course QUEBEC (CP) Th" Cawtrand government intervention TORONTO (CP) Industrial issues dropped to a low for the year, as prices on the Toronto stock market moved lower for the seventh consecutive session in moderate mid-morning trad- ing today. On index, industrials were down .74 to 172.76, a low for the year, golds ,35 to 175.47, base metals .20 to 84.20 and western oiJs 1.38 to 231.98. Volume by 11 a.m. was 463.00C shares, down from at the same time Friday. Declines outnumbered a d vmces by almost two-to-one, 14 lo 71, with 162 issues un changed. Weakest sectors were bever ages, industrial mining, mer chandising and oil refining Twelve of the industrial index's 17 sub-groups moved lower. Falconbridge dropped 1 to Pacific Pete to 533ft, Sherritt to Ranger to Imperial Oil to and Tara ]A to Price lost to Montreal Trust 'A to Inco Vs to Patino Vi to Aqui- taine Vz to Canadian Home- stead to SlOTn and Mclntyre 9s to Corporate Foods was up Vi to Pan Ocean Va to To- ronto Star B Va to ?33, Bruns- wick Mining five to and Home A Vfe to ?35. PRICES DOWN MONTREAL (CP) Prices edged downward in all sectors except banking in light trading on the Montreal stock market today. Combined volume on the Montreal and Canadian stock exchanges at 11 a.m. was shares compared with at the same Ume Friday. On index, banks rose .10 to 214.29. Industrials dropped to 178.48, utilities .36 to 151.36, the composite .82 to 177.34 and papers .63 to 74.73. Among declines on the Mont- real Stock Exchange, Simpsons Sears dropped to Pa- cific Petroleum to and Asbestos Corp. to By Gene Fawcelte THEOtolSBACKi-OR RATHER, IT WASN'T REALLY GONE. THOUGH THE FAMOUS HAWAIIAN BIRD WAS BELIEVED EXTINCT SINCE 1964-, A SCIENTIST USINS A HELICOP- TER TO PENETRATE KAUAI'S DENSE FORESTS, RECENTLY FOUND A NESTlNS PAIR WITH TWO YOUNG... O'O (MQtfO BMCCATUS) IS SPECIES OF WE HAWAIIAN O'Os-lONQ TtfERSUSEDlNlMnvt 300Z Falconbridge, which dropped heawly last week, continued its declined today by Vt to Highlightnig gains, Montreal Trust rose la Logistic to and Ivaco to S On the Canadian Stock Ex- change, Fallinger rose one cent to on shares. SLOW TRADE TOW YORK (AP) Stock market prices continued their steady downward drift today in slow trading. The Dow Jones average of 30 industrials at noon was off at 8B3.47. Among C a n a d i a n s on the NY3E, Alcan declined to and Granby Mining and Walker Gooderham both were off to and respec- tively. Massey was up lo On the American Stock Ex- change, Brascan Ltd. and Cana- dian Javelin were both down Vt to and respectively. Auto dealers cheered by sales rise DETROIT (AP) U.S. auto dealers were cheered Thursday by mid-September reports dian Chamber of Commerce w work out policy positions tod on issues ranging from politic contributions to trade with t United. Stales. The policy session at the ar nual meeting here will establi the chamber's position on a v riety of issues covering oper tions of the national organi; tion and its affiliates. Many (he resolutions will set Die has for petitions to federal and pr vincial governments during t coming year. Some of the issues to be d cussed were reflected in t keynote speech Sunday, t opening day of the five-day co ference, hy outgoing preside A. Gordon Archibald. He said "excessive legislatii Grain prices Winnipeg Grain WINNIPEG (CP) Rape- seed iosted advances as muc as three cents on good loci and commission house buyin with moderate hedges at mil session on the Winnipeg Grai Exchange today. Other commodities excep rye were steady to fractional higher in a quiet trade. Ry posted sb'ght losses on Lion of October futures. Volume of trade Friday wa bushels of flax, COO of rapeseed and rye. Mid-session prices: Flax: Oct. unchange Nov. lower Dec. lower 2.28V2; May un which showed sales ran 22 per chanced 2 38H cent ahead of a year ago. j Rapeseed Vancouver: Sep Three of the auto firms-Gen-! higher 2 71B; Nov -al Motors, Chrysler and er J a n. 1% higher American Motors-ran ahead of i 2 sales for mid-September, 1970 r9r s while Ford trailed. Total sales by the four auto irms in the tight selling clays came to compared with in the same period last year. For the year to date, sales totalled cars, up eight' per cent over the sold j n the corresponding period of 1970. I Rapeseed Thunder Bay: Oc 7R higher Dec. high er 2.51; May higher higher 1 02A Hog prices EDMONTON (CP) Closing average prices provided by the Alberta hog producers market- ng board: Edmonton: 24.04. Average Thursday 24.42. Red Deer: 24.58. Average Thursday 23.99. Calgary: 24.52. Average Thursday Lethbridge: 24.22. Average Thursday 23.88. Lloydminsler: 23.38. Average Thursday 24.06. Grande Prairie: 24.00. Aver- age Thursday 23.88. Total hog sales Aver- age 24.29. Total sows 14. Average 13.15. BLAST HITS AHiPORT TAfPEP, Taiwan (Reuter) An explosion damaged the crowded terminal building at 'aipei International Airport lere, ripping out a large section if the ceiling and shattering vindows. Officials said there vere no casualties but the cause f the explosion is under investi- ;ation. BARONS HOTEL FOR SALE BY OWNER GOOD SALES OWNER RETIRING GOOD TERMS REASONABLE INTEREST CAFE RENTED OUT 10 Rooms and 2 Suites Phone for appointment WILLIAM THEISSING 757-3767 nr GlEN GIBB 757-3870 lower SOVaB; May 96VuA. High Flax Oct JVov 230 Dec 228Tis May 2381-4 my, Dec lowc: Low Close 227-Y4 229% 228 238 Rapesecfl Vancouver Sep 271 270 Nov 269 264% Jan 266'i Mar 265 261Vz 230'i 220yB 238% 270'.i 265 rtaposcod Thunder Bay 253 253V4 Oct Dec May Oats Oct 65Va Dec 04-% May Barley Oct Pec JOKe May llye Oct 89V4 Dec May 91 9614 251 Vi 250V! 65 64% 89 9014 95's 251 Vi 25818 65 lOl's 101 10014 9611, Croliaus given life sentences 011 assassination STOCKHOLM (Reuler) The Swedish Court o[ Appcak fixed today life sentences for two Groalians convicted of assassi naling Hie Yugoslav ambassa- dor Stockholm last April. Mro Barcsic, 20, and And' jelko Drajkovic, 22. had bolh asked for a reduction in their sentences. They were sentenced lo life imprisonment last month. The Appeals Court turned (heir request but lowered the sentences of two acconv plices to lit months from two years. They are Malinko Lemo, 28, and Stanislav Milicevic, 21. Ambassador Rolovic was shot five times during [lie April 7 RiieiTilla-typc allack on his of- fice and died eight days laler i 11? n H I regaining conscious- ness CHARTERED ACCOUNTANT A Inrgc Calgary-bcjed manufacluring company hai nn Immediate requirement for a chief accoynlont. centraliiQfion of (he accounting functions of fha company wilh tlioso of two affiliated companiei has resulted in llie creation of ihi! new position. Opportunities for advancement for the right candidate are excellent. Thn position Is ideally mired to a younrj Chartered Accounlonl wilh one to two years experience afler graduolion. The abilily to luperviso on accounting itoff essential. Rnnorling lo the Manager of Accounting Services, the rnspamibililirs will in- elude the prepnralior. of monlhly managmcnt reports and finontiol stotomcnll, par- licipatinn In budget preparation and ovcroll luperviiion of the cost and general accounting functions. lubmltllng a cemplile rvtume lo Box 99, lethbridge Herald and interference" threaten the survival of many Canadian cor- porations. Among pending fed' era! bills which may drive com- panies out of business were the competition bill and the pro- posed labor code. M r. Archibald condemned those who "foster an anti-Amer- ican campaign" and said Cana- dians should realize that the U.S. is our best customer and our best -neighbor. The issue of trade relations with the U.S. was scheduled for further discussion today as con- flicting resolutions were to be presented. One resolution urges the fed- eral government to give lop priority to improving trade ac- cess to the U.S. market. The U.S. currently accounts for slightly more than two-thirds of Canada's two-way trade. Ajiothcr resolution says Can- ada should explore the possibil- ties of entering the European Common Market or of making trade agreements with Epulh American of Pacific Rim coun- tries in order to lesson depend- ence on trade with any one na- tion. The Canadian chamber has about 800 affiliate chambers of commerce and boards of trade, many of which initiated draft resolutions. A proposal that financal con- .ributions to political parties be tax-exempt was among other resolutions. FOAM-DOME-HOME An experimental house being built in Qoesnel in British Columbia's Cariboo country could be a breakthrough in the search for low-cost housing. The house, built by wrapping layers of plastic foam and metal meshing around an in- flated balloon, is expected to cost lot included. Retail trade slumps _________ Mondny. IT, 1971 LETHMIDGI HtRALD Liberal MP gives views on trade OTTAWA (CP) Pat Miho- ney, parliamentary secretary to Finance Minister Benson, ex- pressed alarm here at what he called the lack of American leadership in removing bar- riers to international trade. Addressing t h e economic committee of the North Atlan- tic Assembly, Mr. Mahoney questioned whether trade part- ners of the U.S. ara being rea- sonable in looking to Washing- Ion for leadership. "To date, that leadership has not been and the absence of any indication the U.S. is prepared to ofler leader- ship is "both novel and disturb- ing." Jlr. Mahoney said there does not seem to be left in the U.S. any powerful vested interest advocating free trade. And there were those who saw Aug. 15, 1971, the dale when President Nixon imposed additional 10-per-cent tariffs, "as the advent of a new era of protectionism." OTTAWA (CP) A month after Finance Minister Benson urged Canadians to spend some of their fat bank balances and draw available credit to give a joost to the economy, wholesle and retail trade slumped, gov- rnment statistics show. Mr. Benson presented to the Commons June IB, saying tax cuts and other measures were 'directed specifically to the en- Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, Roadhousc and McCuaig) LAST BID OR SALE couragemcnl of the spending and investment in the private sector at large which is so nec- essary to sustain an expansion of employment and income." "A s with high savings and credit- spend more, productive capac- ity will be more fully utilized, capital investment will grow, more jobs will be created and more income earned to support yet higher levels of he said at another point in his budget. But statistics Canada reported a.m. Quotes) I a.m. Quotes) WESTERN OILS Hud Bay Oil Pld 56.50 Alminex 5.60 Hurh Resell TR 50 Alln East Gas Husky Oil 1710 Asamera Husky Oil B -J2 35 Ashland n.50 Husky Oil War 775 BP Oil Gas t.fS Jnler Prov Pine 13 ?5 Can Soulh i.oS Infer Prov Sled 7 <0 00 Joule! .Al 10.50 Kaiser Res J M Kam Kolla Leke DufauH .63 L Ont Porl C(