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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 28, 1970, Lethbridge, Alberta -------Monday, Seplombcr 28, 1970 THE LETHBRIDGE HERALD 13 Market Declines In Light Trade TORONTO (CP) The To- ronto stock market dropped moderately in light mid-morn- ing trading today, interrupting three consecutive advancing sessions. On index, industrials were 'down .5 to 165.22 and western oils 1.43 to 185.45. Golds were unchanged at 155.69 and base metals advanced .10 to 96.53. Volume by 11 a.m. was shares, down from at the same time Friday. Gains outnumbered losses 93 to 84 with 142 issues unchanged. Weakest sectors were banks, beverages, industrial miners and oil refiners. Ten of the exchange's 17 sub- indexes were lower. Among losing issues, Inco down V2 to Readers Dig- est to Bow Valley to Union Carbide to Chieftain 37 cents to Sie- bens 25 cents to and Banff to Slater Steel rose to Dominion Textiles to Endako to 'and Pyramid 33 cents to 69 cents. ACTIVE TRADE MONTREAL Montreal stock market moved lower in all sectors in active trading today. Banks led the decline, falling more than a point to 177.04. util- ities slipped .56 to 177.04, atil- dustrials .31 to 167.53 and p- pers were down .83 to 88.12. The composite index was off 143 to 163.57; Among declining issues, Sowtham Press was off to CPR to Noranda to Bank of Commerce to and Macmillan-Bloedel to Canada Cement Lafarge Ltd., up to announced that operating results in the first Find Candidate Shot To Death BRENTWOOD, Mo. (AP) John W. Peters, Republican candidate for Congress from Missouri's 2nd District, was found shot to death in the base- ment .of his campaign headquar- ters Sunday night. Robert C. Ryan, deputy county medical examiner, said Peters, 49, apparently shot him- self. Peters, district sales engineer of the Borg-Warner Corp., more than doubled the vote total of his nearest rival in the August primary to pick candidates for the Nov. 3 congressional elec- tion. quarter were adversely affected by lengthy strikes interrupting construction industry operations in British Columbia. Taylor Kennedy, president, said "cement sales volume out- side British Columbia was mar- ginally higher than for the same period in 1969 and profit mar- gins remained constant." In other losses, John Labatt fell to Domtar 'A to Aquitaine to Shell Canada Vt to and QSP Ltd. Vt to Denison Mines rose to and Dominion Textiles to Combined volume on the Montreal and Canadian Stock Exchanges to 1 p.m. was 672.MO shares traded compared with at the same tune Friday. PRICES LOWER NEW YORK (AP) Stock market prices continued to drift lower today in moderately ac- tive trading. By noon the Dow Jones aver- age, which had declined steadily since the open, was down 5.96 to 755.82. Among Canadians on the NYSE, Mclntyre Porcupine was down 1 to Canadian Pa- cific was off to Inter- national Nickel dropped to and Alcan was off Vt at On the Amex, Scurry Rainbow Oil was up Vt at while Jupiter Corp. was down to Moscow Flights Money Loser For Air Canada TORONTO (CP) Air Can- ada's service to Moscow starts its fifth year this November, but it is still losing money. Officials say it makes money on the first leg of the route from Montreal when it stops off .at Copenhagen but loses on the Co- penhagen-Moscow part when the crew sometimes outnumbers the passengers. "We sometimes carry four or five persons and it's still costing us an Air Canada spokesman said Friday. Aeroflot, the Soviet national airline, now has two flights a week, compared to one for Air Canada and an Aeroflot spokes- man in Montreal said the serv- ice was making money. The cheapest fare on ei'her airline is a 29 to 45 day excur- sion for return. FOR SALE by OWNER Large executive 1330 sq. ft. Bungalow with 4 bed- rooms. Each floor fully developed, heated swimming pool, garage. Will take smaller home in trade. TERMS AVAILABLE 1050 18th STREET S., LETHBRIDGE Phone 328-6084 for appointment to view this home Silver Stolen From Plant PLAINVILLE, Mass. (licu- ters) Approximately ounces of silver valued at was stolen from the En- glehard Industrial Inc. building here by burglars who used the plant's'fork-lift truck to lift the haul into their own vehicle, it was reported today. The firm uses silver to coat other metals and police said the haul included about ster- ling bars and two coils of ster- ling wire. Marchand Favors Region Expansion QUEBEC (CP) Jean Marc- hand, federal minister of re- gional economic expansion, said Sunday he is more concerned with eliminating economic dis- parities within Canada than [ighting United States domina- ion of the economy. He told 150 local Liberal party members that he wants to avoid creating "a situation worse than MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Roadhause and McCuaig) a.m. Quotes) LAST BID OR SALE m.'OO a.m. Quotes) a.m. Quotes) WESTERN OILS Hudson Bay Co K00 Invest Mulual Alminex 5.75 Hudson Bay Oil 40.50 IOS Vent Asamcra 18.00 Hudson Baq Oil P 55.75 Mutual Ac F Husky Oil Mutual Gr B P Oil and Gas 5.00 Cdn South Cdn Export Gas 4.65 Cdn Gridoil 8.90 Cdn Homestead 8.JQ Cdn In G and 0 11.50 Cdn Long Is .75 Cdn Superior 36.75 Husky Oil War 6.75 inter- Prov P W 12.50 Interprov S and P 6.75 N W Fi Jefferson Lake Joutel Kaiser Res Kam Kotla Lake Ont P Cei N W Gr 1.14 11.50 M 4.88 533 3.26 3.56 4.75 5.22 4.20 4.62 4.63 5.09 3.70 4..06 3.5B 3.93 4.37 3.70 4.06 6.66 Central Del Rio 12.37Va Ncwcortex Charier Chieftan Dynamic Pete French Pete Great Plains Mill City New Continental N Cdn OH Nui 6.25 9.70 1.36 7.05 28.50 2.1? 7.03 7.10 7.80 Pacific Pete Rank Organ Shell Inv Shell Inv Pfd 1.85 6.20 28.50 15.25 Principal Gr Prov Mutual 6.09 Regent Fund 7.80 Royfund 4.91 5.06 United Ac 4.24 4.66 Universal Sav 6.66 7.21 VANCOUVER .23 .92 1.27 .62 23.25 1.83 6.30 Permo Petrol Pinnacle Place Gas Ponder Ranger ___ Scurry Rainbow Spooner Western Deealta CALGARY Acroll Anaconda Pete Barons Oil ___ N Continental Western Warner Madison Rexdaie MISC. INDUSTRIALS Atco Indust 11.00 Aquafaine ......24.50 Br New Corp. 4.65 Cdn Brew A Pfd 30.00 Aniik 120 Shell Inv' Wts Atlas Expior Sick's Rainier 3.62Vi Beth Copper 16.CO W Cdn Seed Pro 2.50 Bornite RicigQ Whitepass and Yuk 17.50 Block Bros 3.45 PIPELINE STOCKS Brenda 10.25 Alia Gas Tr L A 46.50 B.C. Sugar 15.25 Gas (Nat) 21.87'A Capf International 3.70 Cdn W Nat Gas 14.75 Churchill Copper 2.35 Inland Nat Gas 10.25 Crestbrook For I 7.01 N and C 1 4.50 Croyden 35 nd C B Pfd Dolly Varden Gaz Metro 5.75 Dynasty Tr Cdn Pipe 29.50 Endako cdn P Pfd 40 50 Giant Mascot Tr'Cdn P Pfd A 57.50 Gramsle 1.22 -rr cdn P War 9.75 Growers B -07'A wesfcoasr Tr 19.75 Hy's W Pacific Interior Brew .02Vi MUTUAL FUNDS Jericho AGF Special 2.20 Kamioops Copper All Cdn Com 6.57 7.18 Lornex All Cdn Divid 7.60 8.31 Madrona All Cdn Vent 3.29 3.59 New Cronin Gr F 4.51 4.95 New Imp Mines 6.60 14. Wa 2.90 13.00 2.60 2.50 4.30 .10 8.20 1 'Carbons 15.00 Cdn Cdn Pac CPR Pfd Cygnus A Cygnus B Gt Cdn Oil Sands Home OH A Home Oil B Cdn Cdn invest Col Mutual Cmnw Inter 5.07 5.57 Okanagan Helicop 3.15 F 4.23 4.63 Primer 5.42 5.95 Pyramid 11.37 12.46 Silver Standard P Cmnw Lev 2.93 3.21 T C Expior 3.50 Corp Invest 5.02 5.49 Texmonl 5.50 Corp Invest S F 4.58 5.01 Trojan 6.00 Dreyfus F U.S. 10.55 11.56 Western Mines 390 Gr Equity 5.64 6.19 Westcoast Res Gr In Shares 3.03 3.33 Western Expior 21.00 Invest Gr 9.74 10.64 Ulica TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Quotes) a.m. Quotes) a.m. Quotes) Moisons B North, cent Pembina Pp Power Corp Price Co 6.87V2 Rothmans 43 50 St Law Corp S Shell CDA Simpsons Srmp Sears steel of can Selkirk A Texaco..... Traders Gp A Tr Mtn pp Trans can Pp Union Gas Union Oil Versatile Mfg Westeel Western's B Woodward's A West Crin Sd Zenith Elec BANKS Can Imperial Montreal Nova Scotia Royal...... 15.75 Tor-Dom..... MINES 13.00 Acme..... Advocate Asb. Akaitcho..... Area Mines Belcher Iron Black Bay Bralorne Broulan Bethlehem Brunswick Canada Tung. 42.50 cassiar 18.00 central Pat, 14.50 Chimo....... 43.25 Conwest 24.62VJ Cons. Rambler 7.25 coin Lake 29.50 cochenour 15.00 Craigmont 5.25 Dickenson Mines woug 5.50 Denison Mines Loeb Deer Horn Loblaw A 6.00 D'Eldona..... jfi.QO Dome Mines 9.75 Donalda Discovery Mines 31.00 Eas! Malartic 14.25 East Sullivan INDUSTRIALS Abitibi..... Alcan...... Alfoma Steel Atco Ind Aflan Sugar Bel! Tel Brazil Trac B.C. Tel Burns B.C. Forest B.C. Sugar CAE Ind Cdn Brew Cherncell Col Cellulose Cal Power Coron Credit CWN Gas Cdn Indust Canada S S Cdn Marconi Cdn VIckers Chrysler CPR....... Cominco Cons Bath Cons Gas Dist Spa Bridge Domtar Dorn Textile Dom Stores Dome Pete Fam Play Fd of Amer Gt Cdn Oil Gen Motors Gt Lakes Pap 21.75 13.00 11.00 61.00 8.75 23.00 4.75 7.75 4.95 5.50 24.75 1.10 10.50 24.00 3.25 6.00 23.00 63.50 20.75 10.50 17.50 6.00 7.75 11.00 19.00 Gulf Oil Cda Hawker Sid Huron, Erie Hiram Walk Imperial Oil Imperial Tob Inf Nickel Int Pipe Inv Gp A Int Utilities Indust Accept Laurentide Kelly Doug A Metro Stores Masssy Ferq McMillan Bloe Moore Corp Molson's A 4.00 74.25 19.25 17.75 2.10 14.50 Falconbrldgc Frobex....... 22.00 First Maritimes Giant .YK..... Gunnar Granduc..... 3000 Headway R.L. 1900 Hollinper Hud. Bay M-S Hvdra Ex. iti'so Highland Bell lrri" Bay..... 'so.......... IB 12V-> Joliet Que_bec Kerr Addison KeY Anacon 3900 Labrador..... 3.35 Lake Shore Macassa..... Madsen R.L. AAalartic G.F. Martin McNcely Maybrun 1550 Maclntvre Intern Mogul 19.62VJ New Attiona New Calumet .07'A New Imperial 2.001 Noranda .48 Nortrtgate 1.95 Opemlska .41 Oslsko Patino 16.75 2 55 142.00 .24 1.05 7.90 1.40 7.80 12.50 35.12W 20.50 .22 2.7fi 3.25 1.93 .23 10.25 .31 33.00 3.25 1.54 .03 1.26 the existing one" by holding back subsidies from U.S. com- panies who want to invest in underdeveloped regions. Mr. Marchand admitted that U.S. economic domination is "scandalous to a certain ex- tent" but added that to take over U.S. investments all at once would reduce the country's standard of living by 50 per- cent, "and that's without creat- ing a single new job." Such a takeover has to be ac- complished gradually. In the meantime, U.K. investment in underdeveloped regions is wel- come. It would cost more to create Crown corporations to set up in- dustries in underdeveloped re- gions that it does to provide subsidies to private investors. Mr. Marchand said his de- partment has million set aside for such subsidies, which might result in investments worth a total of billion. CREATES JOBS This is the best way to create jobs in areas high unemploy- ment. Mr. Marchand said the re- gional economic expansion pro- gram is necessarily discrimina- tory. "It's hard to say he said, but his department has to help those who need it and refuse to help those who don't. He rejected complaints by Premier W. A. C. Bennett of British Columbia and Premier Harry Strom of Alberta that the federal government was show- ing favoritism to Quebec at the expense of their provinces. "In my opinion, those are the provinces which are most able to solve the problem by them- he said. Mr. Marchand was one of three federal cabinet ministers who were to have spoken at a public information meeting or- ganized by Gerard Duquet, Lib- eral member of Parliament for Quebec East, and his riding as- sociation. Neither Labor Minister Bryce Mackasey nor Revenue Minister Herb Gray showed up, and Mr. Marchand was himself an hour and a half late. 1.60 .24 I6.i2' 4.fiO 2.05 22.00 Pine Point Placer Dev. P.c.-Exp Quebec Man Rayrcck Radiore J.LWI Kadi ore 2.75 Rio Algom Roman Corp. 11.75 Silverfieids .84 Sherritt Gordon Silver Miller '.55 Sleep Rock 10.75 Siscoe 1.40 TeK Corp..... 24.00 Texmont..... .03 Upper Canada 1.16 Western Mines 56.00 Wright Har. W.illroy 1.30 Windfall..... 1.20 Yellowknife Br. 5.40 Zenmac 9.35 .16 2.05 2B.75 10.00 12.25 .31 32.50 31.00 34.00 .76 .24 1.33 .31 16.00 6.20 2.05 .07 2.75 2.07 6.30 .47 1.72 3.70 1.30 1.42 NEW YORK STOCKS Supplied by Richardson. Securities of Canada Amr T and T Montgomery Ward V.tWi 20 Golds 15U2 up .-13 Anaconda 2I.62VS Sears 10 Base Met .JO Bin Steel 21.00 Std Oil of N.J. 66.00 15 W Oils 185.41 oil 1.44 Chrysler 27.25 Texas Gulf 116.75 Volume Comsat 45.00 Texas Co YORK AVBRASES Dupont Wolworlh 33.87'A 30 Indust 757.67 off 4.10 Gulf Westinghouse Elec 63.62Vi 20 Rails 147.04 up 1.81 Gen Motors U.S. Steel 32.CO 15 Utilities 108.48 off .38 Int Harvester 22.87VJ TORONTO AVERAGES 65 Stocks 242.50 off .16 Keni. Copper 41.75 20 Indust off 80 Volume TTwse secMn'Bes AaMhs been sold, this announcement appears as a matter of record only. NEW ISSUE THE BRITISH COLUMBIA SUGAR REFINING COMPANY, LIMITED (Incorporated under the laws of Canada) First Mortgage Sinking Fund Bonds Series A To be dated: September To Mature: September A prospectus is available upon request, Wood Gundy Securities Limited Greenshields Incorporated Pembertpn Securities Limited Richardson Securities of Canada Dominion Securities Corporation Limited McLeod, Young, Weir Company Limited Odium Brown T. B. Read Ltd. A. E. Ames Co. Limited Royal Securities Corporation Limited Samis Co. Ltd. Gi-ain Prices Winnipeg Grain Prices WINNIPEG (CP) Trade continued light at the close of the Winnipeg Grain Exchange today with prices moving nar- rowly in all commodities. Flax had some exporter and crusher buying on slight de- clines, while rap.9seed had local and commission house trade. Rye prices were fractionally stronger on modest exporter buying. Oats and barley trade was light, with domestic shippers buying for eastern feeders. Friday's export wheat load- ings included bushels to Britain, to India, to Syria, to Norway. Volume of trade Friday was bushels of flax, 000 of rapeseed, of rye. Lakehead prices for Class Two and IGA wheat all were unchanged. In a change of procedure, Hie cash price for Vancouver rapeseed was dropped from the daily cash prices list, leaving the Thunder Bay quotations the basis for cash prices. Prices for Class Two wheat for export to countries outside IGA: 1 Nor 2 3 1.71% 4 1 Durum 1.7914; 2 3 IGA prises: 1 Nor 2 3 4 1 Durum 1.79V4; 2 3 High Low Close Flax Oct 272% 269 270V2 Nov 262% 261% 262 D2C 242 240 May 251% 250% 250% Rapeseed Vancouver Nov 234 229% 231 Jan 228V4 224% 225% Mar 224% 220% 221% May 223 219V4 219% Rapeseed Thunder Bay Oct. 232 Dec 215 Apr 220 220 Oats Oct 95 94 S4 Dec 90% May Jly 92% Barley Oct 126% 126% 126% Dec 124% 124% 124% May 127% 127% Jly 127% Rye Oct 107 106 106% Dec 109% 109% May 117 115% 116% Jly 118% WILL STUDY SABOTAGE LONDON (Reuters) The legal committee of the Interna- tional Civil Aviation Organiza- t i o n will meet here from Sept. 29 to Oct. 13 to prepare a draft convention on sabotage and other acts of "unlawful in- terference" against airliners. Mass Media Report Near Completion KITCHENER, Ont. (CP) The Senate committee on the mass media probably will com- plete its report by Dec. 1, Sena- tor Keith Davey, committee chairman, said in an interview. Senator Davey was here to speak to the closing session of the first annual convention of the Kitchener-Waterloo District Catholic Youth Organization. He said he was satisfied with the five months of committee searings which ended in April and that since then he and other committee members have de- voted all their time to the "enormous job" of compiling a report. The report is to contain rec- ommendations to governments, publishers, the working press and citizens concerning the mass media. Commenting on suggestions that Canada establish a press council, Senator Davey said: "There are good arguments for and against it. These will be analysed in the report." OTTAWA (CP) Senator Keith DP.vey, chairman of the special Senate committee on the mass media, today refused comment on a report that the committee will recommend abolishing tax privileges en- joyed by the Canadian editions of Time and Readers Digest. Senator Davey said in a tele- phone interview from Toronto that he could neither confirm nor deny the report carried re- cently in the Montreal news- paper Last Post. Advertisers in the Canadian editions of Time and Readers Digest may deduct the cost of advertising as a business ex- pense for tax purposes. This privilege is enjoyed by Cana- dian magazines but is denied to magazines based outside the country. WEEK FOR CLOWNS WASHINGTON (AP) The Senate voted Friday to desig- nate the first week in August, 1971, as National Clown Week, prompting Republican Leader Hugh Scott to ask if the mea- sure "applies to members of Congress." "I can understand a jest when I hear re- sponded Democratic Leader Mike Mansfield. Canada Oilers Wheat., Flour OTTAWA Min- ister Ihsan Sabri Caglayangil of Turkey today rccived a "very substantial" offer of Canadian wheat and flour as part of Ca- nadian economic assistance to that country. Mr. Caglayangil, in Canada for a five-day visit, met Exter- nal Affairs Minister Mitchell Sharp to discuss current world problems and Turkey's eco- nomic development program. It was in the context of this pro- gram, officials said, that Mr. Sharp said Canada is prepared to offer "very substantial" as- sistance in the form of wheat and wheat flour. Sources said the offer in- volved several million dollars' worth of wheat. After meeting Mr. Sharp, the visiting foreign minister imme- diately went into talks with Otto Lang, minister responsible for the Canadian wheat board, and also acting minister of trade. Sources said Mr. Sharp told Mr. Caglayangil that Canada is "very encouraged" with Tur- key's economic development and is anxious to play its part in this development. With Turkey experiencing a partial crop fail- ure, officials said it was decided to provide Canadian assistance in the form of wheat. DISCUSS MANY TOPICS The two men discussed the Middle East situation, involving the Russian naval buildup in the Mediterranean, the Cyprus situ- ation, and other world prob- lems. Hog Prices EDMONTON (CP) Prices to 11 a.m. today provided by the Alberta Hog Producers Marketing Board: Edmonton: Quoted 25.75 to 25.80. Selling 25.75. Friday's av- erage 26.11. Red Deer: Quoted 25.75, sell- ing 25.75. Friday's average 26.27. Calgary: Quoted 25.75. Sell- ing 25.75. Friday's average 26.08. Lethbridge: No sales. Fri- day's average 25.93. Lloydminster: No sales. Fri- dav's average 25.35. Total hogs sold to 11 a.m. 503. Tcial sold Friday at average 26.11. Sows at all points today 16.85. Mr. Sharp said that Canada Is anxious to play a useful role in the Middle East conflict, but after last week's talks with var- ious foreign ministers in New York, he found no useful initia- tives that Canada would take. He told Mr. Caglayangil he was discouraged by the talks. Mr. Sharp assured his guest Uiat Canada has no plans to withdraw its peacekeeping force from Cyprus, but that he is con- cerned about the lack of rapid progress in the current negotia- tions. Mr. Caglayangil said the de- mands being made by the Turk- ish community on Cyprus are logical and reasonable. He said Turkey was grateful for Cana- dian understanding in the Cy- prus difficulties. Calgary Livestock CALGARY (CP) On offer to 11 a.m., about 400 head: half slaughter ca'.tle and half replacements. Trade was fair- ly active. Slaughter steers were steady with last week's close with heavy kinds discounted 50 cents'. Good quality heifers sold steady, cows and bulls also steady. Choice slaughter steers 27.75 to 28.10. good 26.7.1 to 27.50, me- dium 25.75 to 26.50. Good heif- ers 25.25 to 26.25, medium 24 to 25. Good cows 21.50 to 22, me- dium 20 to 21.25. canners and cutters 17 to 19.50. Good bulls 25 to 26.50. Replace ment cattle were heavy, fleshy, short-keep steers selling at steady prices. Stock calves were mostlv of medium quality at steady prices. Good feeder steers weighing more than 750 pounds 27 to 29.50. Good stock calves 36 to 40.50. common to medium 31 .to 35. Medium fo good rtcck heif- er calves 27 to 31. No slaugh- ter calves offered. Hogs base price 25.75. DWELLS IN BARRENS The arctic fox lives in a bar- ren treeless area around the Arctic Ocean. IN STYLE tHIS FALL AND WINTER With An Attractive Fireplace Surrounded By Beautiful Fireplace Accessories TEDAR LOGS Vi Card SPECIAL 24 ,50 BIRCH LOGS PRES-TO-LOGS The Clean, Economical Convenient Fuel Box of 6. Priced ot ONLY ,49 Sale Item Of The PARTICLE BOARD 4' x 8' x Per Sheet >.50 4' x 8' x Per Sheet CRESTLINE BUILDERS AAARKET LTD. "LETHBRIDGE'S INDEPENDENT BUILDING SUPPLY HEADQUARTERS" 123 30th St. N. Phone 327-5444 or 327-5110 ;