The Gazette from Montreal, Quebec, Canada • 18

TS-' 18 Montreal. Sat. May 15 1978 dip on Ganadian markets after eight-day climb Bethlehem Copper moved up 'i to 14. Extehdicare "2 to MICC 12 to 10'i and Ontario Trust to 8. The Montreal Stock Exchange delisted the common and preferred shares of Steeltree Group and the purchase warrants of Furlong Plastics, which entitle the holders to purchase shares of Steeltree, because of the mation.

After the close Trimac announced it has pur-chased 346,925 common shares of Kenting. giving it 48 per cent of Kenting's 793,686 outstanding shares. Trimac had already owned some 34,000 Kenting shares. Western Mines rose to 6' in a turnover of some 42,000 shares. After the close it was announced that West- em will purchase from Bra-scan Resources the latter firm's interest in a number of mineral properties.

Western said the acquisition "significantly broadens" its exploration base. Hamilton Trust advanced to 16. The company said it has withdrawn its offer to purchase a major interest in Lincoln Trust Savings. companies' failure to comply with listing requirements. Shares of Orenada Mines were removed from trading at the request of the company.

The Ontario Securities Commission rescinded its cease-trading order in shares of Chiboug Copper, the company now being up to date on its filings. cents a share versus $1.22 in the year-earlier period. Inco, Denison, Mclntyre and Gen-star were other half-point losers. Highlights among the winners were Trimac and Renting, the former climbing l' to 8'j and the latter 1 to 17. Trading was halted in the two issues shortly after noon pending the release of infor TRENDS AND LEADERS Montreal Averages 65 13 7 8 IS Indus Utlls Banks PaperComp.

Change -1 90 -1 18 1 05 -1 47 Close 309 93 1 45.47 50 11 126 37 J01 49 1976 H. 211 83 146 6 5 2 62.56 1 38 38 202 96 1976 L. 176 11 124 01 235 5 2 98 38 173 10 Montreal Volume Friday 54S.0O0 Thursday 1.141,000 The GAZETJ Stocks By NORMAN CLARKE of The Gazett After edging steadily higher for eight straight days, the Canadian markets finally faltered and turned downward in light trading yesterday. Analysts attributed the decline to the usual round of profit-taking after a prolonged rise, as well as to the influence of a fairly steep slide on the trend-setting Big Board at New York, which had been just a shade weaker during the two previous days. The drop in the Canadian list left all but the bank and base metal components of the Montreal and Toronto exchanges' nine main price indices at lower levels.

The 150-stock industrial index, which had climbed 6.38 points in the eight-day upswing, was off 1.09 at 195.90. Individual losses topped gains by a three-to-two margin. Trading volume dropped off quite noticeably with the erosion of prices. The combined Montreal-Toronto total was shares, off from Thursday's 5,099.000. Prices on the senior board at New York gave ground across a broad front as investors showed their concern over new indications of a rising trend in money costs.

At the close individual losses outnumbered gains by nearly five to two and the Dow Jones industrial index was down 8.50 at 992.60. For the week the indicator was off 3.62. After the close Thursday the U.S. Federal Reserve reported another increase in the basic money supply that brought the annual rate of expansion for the latest four weeks to 19 per cent far above the Fed's target of 7l2 to 10 per cent. Yesterday the Fed allowed the bid rate on federal funds to move upward to nearly 5't per cent without intervening Trading Highlights to hold it down.

This was interpreted by analysts as indicating a definite tightening of monetary policy. And at the opening yesterday New York's influential Citibank, the second biggest U.S. bank, announced an increase in its prime lending rate to 6 per cent from returning it to the level prevailing at most other major U.S. banks. While the move came as no surprise to Wall Street, it served to underline the current upward pressure on money costs.

Among the more active issues in the Canadian list losing ground yesterday. Bow Valley dropped a point to 261, on some 16.000 shares and Alcan Ti to 28 as more than 15,000 shares changed hands here and at Toronto. In lighter dealings IBM slid 3 points to 247 and Federal Pioneer 1', to 27. The latter issue had climbed 3 points during the three previous days following the company's report of higher first-quarter earnings. Argus eased 1 to 15, Home Oil to 32,, Hudson's Bay Oil to 38, Canada Development to 97 and Canadian Superior Oil to 46Y Imperial Oil slipped to 25'.

in a Montreal-Toronto turnover of more than 126.000 shares after having recorded a rise of 2 during the three prior days. Cominco eased to 38' i on some 14,800 shares. Just as the markets, closed the company announced the declaration of a semi-annual dividend of $1 a share, down from the previous rate of $1.50 half-yearly. Drummond McCall dipped 'j to 14l, on small volume. The company reported lower first-quarter earnings of 49 Montreal Summary Frl.ThuTj.

Wed. Tues Issues traded 202 222 221 217 Advances 58 89 81 85 Declines 100 72 88 72 Unchanged 44 61 52 60 New '76 17 21 18 16 New '76 31 32 37 79 Montreal Leaders Volume Close Change 64,992 Imperial Oil A 25 13 15.374 Shell Cda 17 90 13 15,200 Cadillac Fair 11,00 25 13,310 Norcen 13 45 13,405 Candn Pacific 17.65 13,000 Simpson's 6 40 .13 11.755 Bank Monti 15 75 13 10. 000 Steinberg's A 17 00 unch. 9 960 Seagram 26 00 25 8.562 North Tele 39 25 Mines Oils 34,000 Mount Jamie .37 02 13,000 Comm Nickel 2.5 unch. 12.3O0GEQ 2 20 05 10,000 New Joburke 45 07 9,500 Chesbar 165 .05 OPTIONS INDICES C.I.

Power revenues, earnings show gains for first quarter On the senior board at New York, volume leader American Airlines moved up ''4 to 13 on 336,000 shares. The company. projected a sharp gain in earnings and raised its dividend to cents from 40. However, only two other issues among the 15 most active were able to register gains. sq.

English measure and more or less; the said part bounded on the front by the part of lot number 440-2-1 described below, on the rear by lot number 439, on the northeast side by lot number 440-1-2 and on the southwest side by the remainder of the said lot 440-1-1: (d) The remainder of the northeast part of lot number one of the resubdivision of lot number two of the subdivision or original number four hundred and forty (440-2 remainder N.E. 1), the said remainder measuring twenty-six feet two inches in widlh and two feet three inches in depth, having an area of fifty-eight square feet (58 sq. English measure and more or less; the said part bounded as follows: on the front by Dorchester Street, on the rear by the part of lot 440-1-1 described above, on the northeast side by lot number 440-2-2 and on the southwest side by the remainder of the said lot number 440-2-1. The whole on the official plan and in the book of reference for Saint Mary's Ward. Without any building.

The whole as it now stands with all active and and unapparent, legal and non-legal servitudes which there may be on the adjoining lots; in particular with the right of view on lots 440-3 and 4 of the said cadastre in favour of lots 440-1-2 and 440-2-2 of the said cadastre." A piece of land of irregular shape fronting on Dorchester Boulevard, in the City of Montreal, without any-building, said piece of land consisting of: (a) Iit number three of the subdivision of lot number four hundred and forty (440-3) on the official plan and in the book of reference of Saint Mary's Ward, measuring thirty-one and three tenths feet (31.3') in width, thirty-eight and three tenths feet (38.3') in depth on the northeast line and thirty-seven and four tenths leet (37.4') in depth on the southwest line and having an area of one thousand one hundred and Jive square feet (1.105 sq. ft. (b) Lot number four of the subdivision of lot number four hundred and forty (440-4) on the official plan and in the book of reference mentioned above, measuring thirty-one and three tenths feet (31.3') in width and having an area of seventv-nine square feet (79 sq.ft.). All the above are in English measure and more or less. Subject to a right of view on the southwest side in favour of lots 440-1-2 and 440-2-2, as established under a deed of partition registered at the Montreal East Registry Office under number 101.863.

The whole as it now stands, appurtenances and dependencies, without exception or "Site VI: An immoveable known and designated as lot number four hundred and thirty-eight (438) on the official plan and in the book of reference for Saint Mary's Ward. The whole as it now stands with all active and passive, apparent and unapparent servitudes attached to the said immoveable, without exception or reservation." "Site VII: A piece of land or immoveable known as number four hundred and forty-one (441) on the official plan and in the book of reference for Saint Marv's Ward; to be withdrawn from the said lot a part expropriated by the City of Montreal under a deed signed before Mtre, Jean Bau-doin, notarv, on the seventeenth of May, one thousand nine hundred and twenty-seven (1927) and registered in Montreal under number without any building. The whole as it now stands with all attached servitudes." The minimum amount that the purchaser must pay the Sheriff in cash or by certified cheque, at the time of adjudication is fixed at 25 per cent of the municipal assessment. To be sold en bloc at the Sheriffs Office in the Montreal Court House, 10 Craig Street East, Room 10.56, on the EIGHTH day of JUNE 1976, at ELEVEN o'clock in the morning. Paul St-Martin, Assistant Sheriff.

Sheriffs Office, Superior Court, Montreal. May 12, 1976. COMPANY NEWS Fieri Facias de Terris Canada Province of Quebec Superior Court District of Montreal No. 05-006649-74 LAURENTIDE ACCEPTANCE CORP. a legally constituted corporation, having a place of business at 2055 Peel Street, in the City and District of Montreal, plaintiff, cs ANDRE PRUD'HOMME, Chartered Accountant, resid-' ing and domiciled at 4896 Leger Boulevard.

Montreal-North, District of Montreal, defendant. "A piece of land fronting on Ethier Street, in the City of Montreal-North, Montreal Registration Division, known and described as consisting of lots six hundred and twenty-four and six hundred and twenty-five of the subdivisions of original lot number fifty (50-624 and 625) on the official plan and in the book of reference for the Parish of Sault-au-Recollet. With all the buildings erected thereon and in particular the house bearing numbers 11231. 1123:3 and 11235 of the said Ethier Street. As the whole now stands, with all active and passive, apparent and unapparent servitudes attached to the said immoveable, without exception or reserve." The minimum amount that the purchaser must pay at the time of adjudication, in cash or by certified cheque, is fixed at 25 per cent of the municipal assessment.

To be sold at the Sheriffs Office, Montreal Court House, 10 Craig Street East, Room 10.56. on the THIRD dav of JUNE. 1976, at ELEVEN o'clock in the morning. Fieri Facias de Terns Canada Province of Quebec Superior Court District of Montreal No. 05-020977-75 THE BANK OF NOVA SCOTIA, a body politic and corporate duly incorporated according to the law, and having its head office at 437 St.

James Street West, and having a branch office at 40 Jean-Talon Street West, plaintiff, is NASSAR KAN AN, of the City of Pierrefonds, District of Montreal, therein residing and domiciled at 4879 Louis-Frechette Street, defendant. "A parcel of land fronting on lyfiuis-Frechette Street, in the City of Pierrefonds, in the Province of Quebec, known as subdivision one hundred and twelve or original lot one hundred and ninety-two (192-112) on the cadastre of the Parish of Sainte-Genevieve with the building thereon erected, bearing civic number 4879 Ixiuis-Frechette Street, the southeast wall w'hereof is mitoyen together with subject to a reciprocal servitude of right of light and view as regis-tered at Montreal under number 2434436. Subject to a servitude in favour of the Quebec Hydro-Electric Commission and the Bell Telephone Company of Canada as registered at Montreal under the number 2372419. As the said property now subsists with all its rights, members and appurtenances without except iotyr reserve of any kind and other considerations." The minimum amount that the successful bidder shall pay to the sheriff, in cash or by certified cheque at the time of the adjudication, is fixed at 25 per cent tit the municipal valuation. To be sold at the Sheriffs Office in the Montreal Court House, 10 Craig Street East, 10th floor, Room 56, on the NINTH day of JUNE 1976.

at ELEVEN o'clock in the forenoon. Fieri Facias de Terris Canada Province of Quebec Superior Court District of Montreal No. 05-011565-759 THE BANK OF NOVA SCOTIA, a legally constituted corporation, having its head office and main branch in the City and District of Montreal at 437 Saint-James, Street, plaintiff vs CARREFOUR MONTREAL a legally constituted corporation, having its head office and main place of business at 4102 Mon-sabre Street. District of Montreal, and REAL GIC.URRK, of the City and District of Mont-rial, whose Inst known domicile is at 4102 Monsnbre Street, and IVAN HE LANGER. of the City and District of whose hist known domicile is at 1115 Sherhrooke Street West, Apartment 1506, defendants.

"Site A piece of land or immoveable fronting on Dorchester Boulevard East, in the City of Montreal, measuring twenty-two feet (22. in width on Dorchester Boulevard and thirty-six feet (36.0') in depth on Cartier Street, English measure and more or less. Without any building. The said piece of land known as forming part of lot number four hundred and forty (Pt. 440) on the official plan and in the book of reference for Sainte Mary's Ward, bounded on the front by Dorchester Boulevard East, on the rear by part of lot number 441, on the east side by Cartier Street and on the west side by the remainder of the said lot number 440, the said piece of land being subject to a right of way for pedestrians in favour of the adjoining piece of land for access to Cartier Street, as established in the deed signed before Mtre F.G.

Crepeau, notary, on the twenty-sixth of August, one thousand nine hundred and thirteen (1913), and registered in Montreal East under number 92,122." "Site II: A piece of land or immoveable fronting on Dorchester Boulevard East, in Montreal, forming part of the lot of land known and designated as number four hundred and forty (Pt. 440) on the official plan and in the book of reference for Sainte Mary's Ward, measuring twenty-two feet (22.0') in width and thirty-six feet (36.0') in depth, English measure and more or less, and bounded as follows: on the front by Dorchester Street East, on the rear by part of lot 441 on the said plan and in the said book of reference, on the northeast side by part of the said lot number 440 belonging to Frederic Bourgeois or representatives and on the other side by the remainder of the said lot number 4 10. Without any building. The whole as it now stands with all the attached servitudes, without exception or reservation." "Site III: A piece of land fronting on Dorchester Street, in the City of Montreal, and consisting of: (a) A part of resubdivision one of subdivision two of original lot number four hundred and forty (Pt. No.

440-2-1) on the official plan and in the book of reference for Sainte Mary's Ward; measuring forty feet (40.0') in width, and two feet eight inches in depth. English measure and more or less; and bounded as follows: on the front by Dorchester Street, on the northwest by lot number 440-1-1 and on the northeast and southwest by parts of lot number 440-2-1; (b) A part of resubdivision one of the same subdivision one of lot number four hundred and forty (Pt. No. 440-1-1) on the same official cadastre for Sainte Mary's Ward; measuring forty feet (40.0') in width on the front on the southeast line, thirty-nine feet three inches (39'3) in width on the northwest line, twenty-five feet eleven inches in depth on the southwest line and twenty-six feet five inc hes in depth on the northeast line, English measure and more or less; and bounded as follows: on the front to the southeast by the part of lot number 440-2-1 described above, on the rear to the northwest by lot number 439 and one the northeast and southwest bv parts of lot number 440 1-1. Without any building.

The whole as it now stands with all active and passive, apparent and unapparent servitudes attached to the said immoveable." "Site IV: An immoveable fronting on Dorchester Boulevard East, in the City of Montreal, and consisting of: ta) Lot number two of the resubdivision of lot number one of the subdivision of original lot number four hundred and forty (440-1-2); lb) Lot number two of resubdivision two of the subdivision 'of original lot number four hundred and forty (440-2-2): (c) The remainder of the northeast part of lot number one of the resubdivision of lot number one of the subdivision of the said original lot number four hundred and forty (440-1 remainder N.E. 1), the said remainder measuring twenty-six feet two inches in width on the front and having an average depth of twenty-seven leet four inches with an area of seven hundred and twenty-six square feet (726 Toronto Leaders Volume 67,823 Kaiser 61,760 Imperial Oil A 47,200 Domn Tex A 30.914 CIL 28.500 Cons Dlstrb 26,785 Candn Pacific 21,550 Simpsons Ltd 21.550 Simpsons Ltd 21,486 Consumers Gas 20.535 Candn Impl Bank 20.050 In.ter-Clty Gas Mines Oils 97,900 Irish Copper 95,850 Redstone Res 65,000 Trinity Chib 57,553 Asamera 54,500 Lakehead Close Change 14 25 .25 25 13 8 65 23.65 4.50 17 65 6.40 6 40 12.75 27 90 4.65 .175 81 .17 1400 .40 .13 13 20 unch. unch. .13 .10 unch. .04 N.Y.

Averages (Dow Jones) Open High Luw CloseChangt 30 Inds. 998 19 100 24 988 74 992.60 8 50 20Trnj. 218 47 220 99 216.90 219.54 0 32 15 Utlls. 87.26 87.74 86.43 86.90 6SStks. 307.56 309.10 304 83 306.78 N.Y.

Averages (Standard Poor) High Low CloseChang 425 Industrials 114 94113 3113.92 15 Railroads 4681 46.27 46 52 60 Utilities 46.23 45.55 45.88 500 Stocks 102.23100.82101.34 N.Y.S.E. Offical Indices Close Change Composite (all stocks) 54.01 Industrials (all Industrials) 60 33 0 51 Transportation (76 issues) 40 35 0 16 Utilities (134 issues) 35.59 0.25 Finance (76 Issues) 5113 New York Volume Friday 16,830,000 Thursday 16,730,000 N.Y. Summary Frl Thurs. Wed Tues Issues traded Advances Declines Unchanged New 76 H. New '75 L.

1.842 1,856 1,864 1,904 430 541 626 787 875 798 664 419 440 440 453 21 45 65 .104 37 4 9 13 N.Y. Leaders Volume 336.100 Am Alrlln 260.900 Fed Nat Mg 246.300 Va El Pw 244.700 Swest Ps 195.300 East Air Line 172.000 Columb Gas 153,700 Texaco 149.000 Williams Cos 138 800 Boeing 125,700 Am Tel Tel Close Change 13 00 75 14 13 13 25 11 90 8 75 23 25 26 90 21 75 33 75 56 65 25 unch 90 90 London Financial Times Averages (Com. Shrs.) Frl Thurs Wed Tues 407 2 408 5 412 9 417 2 1976 High 470 8 1976 Low 304 6 and 5.000 shares of Jolin Bourlamaque Mines Ltd. The Brossard Group said that on the basis of the conversion ratios, 2.046.210 shares of Brominco will be issued in exchange for the More company news page 22 outstanding shares of the eight companies. Many of the companies in the group have interlocking share ownership.

Compro Directors of Compro Ltd. will not recommend shareholders accept or reject the amended offer by Melson Inc. of $7 a share for "up to a total of 282,980" shares of Compro. Melson Inc. is a private family holding company controlled by W.

O. Simpson, chairman and president of Compro. Melson already owns 268.090 Compro shares, equal to a 44 per cent interest II the offer is successful, Melson's holding would increase to 90 per cent. A formal offer is scheduled to be mailed to shareholders May 21, growth The agreement also provides for creation of class and class shares to permit shareholders the option of receiving tax-deferred dividends. Commodore Commodore Business Machines (Canada) Ltd.

reported third-quarter sales of $14,584,000 compared to $12,860,000 for the 1975 third quarter. For the 1976 third quarter ended March 31 net earnings were $1,169,000 or 1 cents Nliar, after taxes and extraordinary Items, compared to a 1975 third-quarter net loss of $2,390,000, or a share Commodore Business Machines Is a producer and marketer of electronic calculators, and designs and produces the major portion of its "Integrated semiconductor requirements; The company also manufactures mid sells steel office furniture. SHERIFF SALES PUBLIC NOTICE, is hereby given that the undermentioned LANDS and TENEMENTS have been seized, and will be sold at the respective times and places mentioned below. Fieri Facias de Terris Canada Province (if Quebec Superior Court District of Montreal No. 05-017639-75 CAISSE POPULAIRE PONTMAIN, a corporation governed by the legislation governing Savings and Credit Unions 76 Cartier Boulevard, Laval-des-Rapides, District of Montreal, plaintiff, us BOU-BAKAR DIABATE, gentle-man, residing and domiciled at 2070 Place Henri-Bourassa, Apartment 37, in the City and District of Montreal, defendant, and THE REGISTRAR of the Montreal Registration Division, mis-en-cause.

"A plot of land fronting on Saint-Hubert Street in the City of Montreal, and compris-ingj. (a) Lot number one hundred and seventy-two of the official subdivision of original lot number two hundred and twenty-eight (228-172) on the official plan'and in the book of reference for the Parish of Sault-au-Recollet. (b) The northwest part of lot number one hundred and seventy-one of the official subdivision of original lot number two hundred and twentv-eight l't. 171) on the official plan and in the bunk of reference for the Parish of Sault-au-Recollet, measuring three inches in width by one hundred feet in depth, the whole English measure and more or less, and bounded in front on the southwest by Saint-Hubert Street, in rear by a lane, on one side to the northwest by lot 208-172 above described and on the other side toward the south by the remainder of lot number 228-171. With one building thereon erected bearing numbers 10219 and 10221 Saint-Hubert Street, the southeast wall of which is shared with the neighbouring property." The lowest amount which the purchaser must pay the Sheriff at the time of the sale, in cash or by cheque, is fixed at 2) per rent of the municipal assessment.

To be sold at the Sheriffs Office in the Montreal Court House. 10 Craig Street East, Room 10.r(i. on the SECOND day of JUNE 1976, at ELEVEN o'clock in the forenoon. Fieri Facias de Terris Canada Province of Quebec Superior Court District of Montreal No. 05-016293-75 DAM ANTOINETTE DAIGNEAULT.

housewife, wile separate as to property of Hervf I'agcau, retired businessman, residing and domiciled at 3-135 Gouin Boulevard East, Mont real -North (Quebec), plaintiff, is RAOUL DAIGNEAULT, baker, formerly domiciled on Notre-Dame Street East, in Montreal and presently of unknown address, defendant In conformity with a judgment rendered by Mr. Justice Albert Leblimc. of the Superior Court for the District of Montreal, dated March 15, 1076, ordering the limitation of the miinoveiible hereinafter described: "A plot of hind or emplacement located in Montreal, fronting on Rachel Street East, known and designated as number two hundred and ninety-three of the official subdi i-sion of lot one hundred and lilly-tliree (153-293) 011 the official plan and in the book of reference for the. Village of Cote-de-lu-Vinitation, with a house constructed thereon bearing civic numbers 1968, 1970 mid 1972 Rachel Street cast." Tin' minimum amount that 1 be purchaser shall pay to the sheriff, in cash or by certified cheque nt the time of adjudication, is fixed at 25' of the municipal assessment. To be sold at the Sheriffs (II lice, in I he Montreal Court House, 10 Craig Street East, Room 10.56, on the FIRST dav of 1976, nt ELEVEN oYloi 111 the lorenoon.

counter-balancing the adverse effects of inflation this year," John Bruk, president, told the annual meeting in Vancouver yesterday. Average prices received for metals produced by the company have increased considerably over the past five years. Bruk said. He added "there is every reason to expect that this trend will continue, so that the prices for our metals will continue to increase at a higher rate than our operating costs." The executive said the company does not foresee a repetition in the near future of work stoppages and slowdowns which affected operations during the first quarter. The company's performance during the first quarter "was the low point in our productivity cycle," Bruk said.

Cyprus Anvil previously reported a first-quarter net loss $1.3 million compared with net income of $8.8 million or $1.15 a share a year earlier. Cyprus Anvil is 63 per cent owned by Cyprus Mines Los Angeles. (By Crang A Ostiguy) Montreal Friday 170.72 Thursday 177 26 Volume yesterday 485 contracts Toronto Friday 108.35 Thursday U5 07 Volume yesterday 354 contracts Toronto Averages 150 II 28 19 Indus Golds BM WO Change 1 09 0 31 0 35 2 09 Close 195 0 786 69 91 46 240 21 1976 197 48 327 80 91 46 242 73 1976 173 35 240 49 73 70 195 76 Toronto Volume Friday 2,884 000 Thursday 3,958,000 Toronto Summary Frl Thurs. Wed Tu. Issues traded 705 731 712 714 Advances 172 2M 249 26) Declmes 243 199 190 Unchanged 290 268 273 244 New 76 33 77 51 61 New 76 9 5 13 13 Brominco An information circular outlining details of the proposed merger of eight junior mining companies known as the Brossard Group is being mailed to shareholders of the companies in preparation for special meetings to be held May 31.

Shareholders will be asked to approve the previously proposed merger of the eight companies into a new company. Brominco Inc. The Brossard Group, headed by Montreal businessman Leo Brossard. said shareholders of the companies will be entitled to receive one share of Brominco in exchange for the following number of shares held in the predecessor companies: four shares of Naganta Mining and Development Co five shares of Nemrod Mining six shares of Timrod Mining 40 shares of Val-dex Mines 50 shares of Ducros Mines 100 shares of First Orenada Mines 250 shares of North Shore Uranium Corp. char, vice-president finance, said.

He said the decrease in capital spending reflected the company's return temporarily to leaseback agreements for the opening of new stores so that debt can be substantially reduced. Eastern Canada Shareholders of Eastern Canada Savings Loan Co. and Central Nova Scotia Trust Co. at special meetings in Halifax yesterday approved the previously-reported merger agreement of the two firms. Central Nova Scotia Trust Coshareholders at a special meeting in Halifax approved the previously-reported merger agreement with Eastern Canada Savings Loan Co.

The agreement involves the exchange of each outstanding share of Eastern Canada Savings and Nova Scotia Trust for one share of the merged company Central and Eastern Trust Co. Net earnings of Canadian International Power Co for the first quarter amounted to $4.1 million or 69 cents a share, up from $3.7 million or 62 cents a share in the corresponding period last year, it was reported here yesterday. Revenues totalled $27.6 million compared with $24.9 million. All figures are expressed in U.S. dollars.

Morley P. Thompson has been named chairman and chief executive of Canadian International Power, succeeding W. M. Hickey, it was announced. Thompson was previously vice-chairman of the board.

Hickey has been named chairman of the executive committee. Commenting on company prospects, Hickey said the outlook for the current year is "good." Hamilton Trust Hamilton Trust Savings Corp. said it has withdrawn its offer to purchase a minimum of 49 per cent of the outstanding common shares of Lincoln Trust Savings Co. at $15.10 a share since less than the minimum required number of shares have been tendered as of the close of business May 13. A spokesman for Hamilton Trust Savings declined to disclose the number of shares of Lincoln Trust Savings tendered under its aborted takeover offer, but added that "whatever shares we received have been returned to their owners." Hamilton Trust made its offer April 21.

Shortly thereafter Canhuron Investments Ltd an affiliate of Canada Trust offered $25 for each Lincoln Trust preferred share and one share of Canada Trustco Mortgage class share for each Lincoln Trust common share. Subsequently Lincoln Trust directors recommended shareholders accept the Canhuron offer, which expires May 28. i Canada Trust is a unit of Canada Trustco Mortgage, which formerly was Huron Erie Mortgage Corp. Cyprus Anvil Cyprus Anvil Mining Corp. expects improved prices for lead, zinc and silver will assist substantially "in Food ex sees asset Foodex Systems Ltd.

expects the asset value of its Ponderosa steak house division to grow to $50 million from $25 million by 1980, H. Shneer, president, said after the annual meeting in Toronto. He said because of the company's method of buying new facilities and financing them through a bank, rather than by using a lease-back agreement, the company will own its own real estate. He said he expected the company to be "virtually debt free" by 1980. Shneer said the company expected to open a minimum of five new Ponderosa steak houses, bringing the total to 90 by year end.

The per share earnings should be above the 1975 level of 64 cents a share, he said. However, the company is "extremely sensitive to fluctuations in weather." Capital expenditures for the Ponderosa division will be $1 million in 1976 versus $2.5 million in 1975, Han-.