The Gazette from Montreal, Quebec, Canada • 19

B-5 Clc3aKtW, Montreal, Wednesday, July 22, 1987 gMfrara-io Fast- hopes to stay healthy lAssnriATtnu i DES COURTIERS DASSURANCES Hi DE LA PROVINCE DE QUEBEC IS isi? cided to purchase Brazeau and Expeditex to gain access to new routes, and reduce fixed costs by eliminating duplicated routes. With the two acquisitions, Cabano has increased its long-term debt to $56 million from $1.8 million. However, Lefrancois also noted that the company's assets have grown to $142 million from $17 million and its fleet has increased to vehicles from 700. The company expects to sell more shares to the public this fall. It wants to raise between $10 million and $12 million to help pay for its The Association des courtiers d'assurances de la province de Quebec (A.C.A.P.Q.) is pleased to announce that Maurice Choquette, Chartered Insurance Broker (C.I.B.), has been elected president of this professional organization.

Mr. Choquette is Vice-President of the brokerage firm Conway Martel ofSherbrooke. Within the framework of the decompart- Expeditex and Brazeau should be completed by Friday. Cabano recorded a profit of $1.7 million, or 68 cents a share, on sales of $28 4 million for the year ended May 2. Brazeau had 1986 sales of $136 million but recorded a loss of $8 million.

In order to reduce its debt load, Brazeau's operations in western Canada have been sold to Reimer Express Lines Ltd. of Winnipeg, and its business in the Maritimes has been shut. Expeditex has been profitable for four of the last five years but recorded a small loss in 1986, said Lefrancois. He said Cabano de Croupe Brazeau Inc. from La Veren-drye Management Corp.

Under the agreement, Cabano will purchase all the outstanding shares of Brazeau for 14.4 million $2 million cash, $4.4 million in debentures and $8 million in preferred shares. Shareholders also approved a motion to change the company's name to Cabano Expeditex Group Inc. to reflect the acquisition of Expeditex Inc. Under an agreement announced in April, Cabano will acquire all Expeditex shares for $12.5 million cash and the issue of 500,000 common shares of Cabano. Lefrancois said the purchase of By BRIAN DUNN of The Gazette Cabano d'Anjou Group Inc.

of Ri-viere-du-Loup hopes to maintain its 1986 profit level despite its recent acquisition of two money-losing trucking operations. "That will be our main objective for our fiscal year ending April 30, 1988, while we integrate the two companies," executive vice-president Gilles Lefrancois said at a special shareholders' meeting in Montreal yesterday, i Shareholders approved the previously announced acquisition of Maurice Choquette, C.I.B. Stock-price decline extends to second day mentalization of financial institution intermediaries, the incoming A.C.A.P.Q. President wishes to stress the insurance broker's role as a key player in the business environment and in serving the public. The 1987-1988 Executive Committee is formed by the following insurance brokers: Maurice Choquette, President; Rejean Frappier (Sorel) and Jean R.

Lachance (Montreal), Vice-Presidents; Jacques Lavigueur (Montreal), Senior Vice-President; Girald Qroulx (Gatineau), Treasurer; Jack Cytrynbaum (Montreal), Fernand Gravel (Brossard), Lise Messier (Montreal) and Clement Tremblay (Napierville), Directors. William R. Jones (Lachute) is now Chairman of the Board. The Association's main role is to establish admission criteria for members and to monitor their professional conduct in order to protect the insuring public. The zodiac sign of Sagittarius symbolizes wisdom and advice; it also accurately portrays insurance brokers, sening the public and offering the wise advice of counsellors.

The Association 's offices are located in Montreal. TRADING HIGHLIGHTS but it won't last long," Tuey said of the performance Monday and Tuesday. Toronto volume rose to 28.35 million shares from Monday's 25.43 million. Thirteen of 14 subgroups were down, with metals and minerals leading the losers. It plunged 1.81 per cent while oil and gas fell 1.22 per cent and transportation slumped 1.13 per cent.

The only gainer was real estate and construction; it was up marginally, by 0.06 per cent Losers led TSE winners 530 to 393, with 374 unchanged. Declines in Montreal outnumbered advances 279 to 204; volume was up slightly to 6.19 million shares from 5.94 million the previous session. New York Stock Exchange vol- urne reached 186.57 million shares, compared with 168.14 million. The drop on the bond market gave direction to an otherwise aimless Wall Street session. The Dow traded in a narrow range until mid-afternoon, when it dropped sharply after a wave of computerized program selling.

Many analysts have predicted the market would correct itself after the Dow climbed 300 points in two months. American Express rose $1.37 to $33.50 in New York after announcing a loss for the second quarter. The company said the results reflected a previously announced charge to cover possible losses from loans to developing nations made by its American Express Bank subsidiary. Profit-taking pulled prices down for the second consecutive session yesterday on Canadian stock markets. The decline on Wall Street also went into a second day.

American stock traders, searching for a direction, found one in the slumping bond market. The Dow Jones average of 30 industrials in New York fell another 19.77 points to 2467.95, with analysts blaming program selling. It lost 22.32 Monday. The Toronto Stock Exchange composite 300 index gave up 22.37 points to 3953.58, after slipping 8.37 during this week's opening session. The market portfolio index in Montreal sagged 20.37 to 1987.38, having lost 4.86 Monday.

Analysts in Canada and the United States said markets in both countries are undergoing a correction after the major gains of recent weeks. In the U.S., analysts also said there was some nervousness in the market as traders awaited the release today of consumer-price figures. The Toronto market gained 60 points last week. It has many stocks particularly in the resource sector which are overbought and overextended, said analyst Leon Tuey of Toronto-based Dominion Securities Inc. For example, common shares of Canadian Pacific Ltd.

have jumped from $23 to $30 in the last six weeks, he said. "It's just a normal pullback Travellers Cheques issued at no extra charge in all major currencies. Best exchange rates available on all foreign currencies and Travellers Cheques. Whether buying or selling call us and compare. TRENDS LEADERS 7U 5.56 1282 19 JO 14.75 3161.75 2921.97 6912.87 3925.42 6523.81 U'S' W're transfers and drafts- Pipelines Utilities Communications Merchandising Management High Tech Index New York Averages (Dow Jones) Ooen High Low Close Chno 30 Inds 2479.5 2500.

2444.67 2467.95 19.77 20 Trns 1038 86 149.53 102687 1032.93 6 98 15 Utlls 202.15 203.94 200.25 200.71 1.39 65 Stks 921.93 930.18 910.20 917.04 6.88 N.Y.S.E. Official Indexes Montreal Averages Portfolio 1987.38 Banks Forest Products 1849.00 Industrial Products 1920.48 Mining Minerals 3652 45 Oil Gas Index 1617 82 Utilities 1617.34 20.37 4.02 23.62 19.99 22.37 14.27 5.37 1038.30 14.90 Correction Output to rise 90,800 tonnes Because of incorrect information supplied by Canadian Press, it was reported yesterday that St. Marys Paper Inc. will double the capacity of its Sault Ste. Marie, paper mill to 250,000 tonnes a year from 114,000 tonnes.

In fact, the company says the paper production will rise to 199,600 tonnes a year from 108,800 tonnes. The Gazette regrets the error. Montreal Volume Tuesday 6,192,000 Monday 5,944,000 Toronto Volume Tuesday 28348,000 Monday 25,431,00 Toronto Summary Tue Mon Frl SMIL Montreal Summary Close Chng Composite (all stocks) 173.59 1.49 Industrials (all industrials) 213.64 1.97 Transportation (7 issues) 157.09 0.74 Utilities (136 issues) 73.26 0 77 Finance (76 Issues) 150.99 039 New York Volume Tuesday 186,570,000 Monday 168,140,000 FOREIGN EXCHANGE 1297 1296 Thu 1313 526 372 415 (2 20 1279 449 445 345 6 0 Issues Traded Advances Declines Unchanged New Highs New Lows 393 530 374 41 17 425 485 386 54 19 Thu 678 281 222 175 32 10 Fri 660 225 247 188 27 6 Tue 673 204 279 190 20 6 Mon 634 228 240 166 17 10 Issues Traded Advances Declines Unchanged New Highs New Lows 2000 McGill College corner of de Maisonneuv 844-8200 390 St. Jacques corner ot McGill 844-2549 1240 Peel South ol St. Catherine 879-1300 SAT.

New York Summary Tue Mon Frl Toronto Leaders Issues Traded 1980 Established 1962 Close Canadian PacH Change Thu 1963 892 626 445 146 11 1980 905 645 430 145 9 1965 513 1080 372 II 13 487 1076 417 64 23 Advances Declines Unchanged New Highs New Lows Va Vs Change 'a 3 14 14 Volume 1,701,739 956,704 751,155 645,549 359471 354,600 297,649 293,500 259,763 259,520 29 10'4 324 29' 19 10H 26 133-4 17'4 26'4 Nova A Moore Corp Northern Telecom Cominco Innopac Falconbrldge CCL Indus Power Corp Inco Change .04 .005 .02 .20 .04 Montreal Leaders Volume Close 132,080 CAE Industries 114 131,030 Canadian Pacif 29H 126,603 Bombardier 10? 101,399 Peerless Carpets 8' 100,978 Imasco 35J4 Junior Resources Volume Close 167300 Essor 1.49 139,831 Abitibi Metis .145 97,925 Oasis .80 72,200 Minaki A 2.15 65,825 Chabela .90 Toronto Averages 300 Stock Composite 3953.58 1987 High Low 3998.04 35-Slock Index 208.21 Financial Services 255337 Melals Minerals 3160 67 Oil Gas 4619.28 Industrial Products 2382.99 Golds 8716.72 Paper Forest Products 3161.75 Consumer Products 5476.45 Real Estate 13155 95 Transportation 9037.32 New York Leaders Volume Close Change 2,646,000 Am Tel Tel 30" 4 2,509300 Pen Am 4 2335,100 SFE So Pae 53', 7M IXnm Am Express 33W 1 2,123400 AM Motors 4H unch Canad Pac 22 ll unch 1.719X100 Mcdrm Int 30' 1,691.400 Caesars Wld 34 1,615,300 Caesars Vi Ve 1,613,200 Chrysler 3v 4 1 ,594,000 IBM 162. XV 1365,100 Textron 37V 1 1,564300 Wst Co Na 3 "4 'ft MAtO SI Brd Pn M94400 Polaroid 31H Mines Oils Volume Close 814,500 Newscope Resour 1.45 559,400 Commercial Oil 1.30 237,280 Placer 22Va 232,412 GW Utilities 23' 1 206350 Ranger Oil 84 Change .03 .05 '4 'j New York Averages (Std. Poor) Summary ism am mssm 22.37 3079.78 1.98 4.18 58.10 56.82 19.45 4.83 7.86 30.96 8.42 103.70 Chne 349 1.59 1.35 0.01 2.14 Close 361.33 253.41 109.01 29.11 308.5 Low 359.90 252.69 109.01 29.03 307.51 High 365.80 257.13 110.72 29.44 312.41 400 Inds 20 Trns 40 Ulils 40 Flnan 500 Stks London Financial Times Averages (Common Shares) Tue Mon Frl Thu 1875.3 n.a. 1916.9 1926 $100,000,000 maximum NIM Resource -1987 and Company, Limited Partnership 7 This advertisement is not to be construed as a public offering of securities in any province of Canada. Such offering is made only by a prospectus in those provinces where such prospectus has been accepted for filing by a securities commission or similar authority.

Subscription Price: $100 per Unit Minimum Subscription: $5,000 New Issue July 1987 $125,000,000 Bell Canada 10.50 Debentures, Series DV, Due 2009 A Tax-Assisted Investment An investor in the NIM Resource-1987 partnership will receive substantial tax deductions associated with resource exploration in Canada. Portfolio Diversification An investment in Units of the NIM Resource-1987 partnership will provide investors with a diversified portfolio of shares of public resource companies thereby reducing the risk that would be associated with an investment in a single company. Growth Potential To provide for the potential for long-term growth of capital, the assets of the NIM Resource-1987 partnership will be exchanged for shares of a new mutual fund which will invest principally in equity securities. Professional Management MD Management Limited, the financial management subsidiary of The Canadian Medical Association, will manage the mutual fund under the advice of Templeton Management Limited, Mackenzie Financial Corporation and Phillips, Hager North Ltd. To mature July 15, 2009 To be dated July 22, 1987 Price: 100 For more information relating to this new issue, please contact any Canadian office of the undersigned Investment Dealers.

The undersigned have agreed to purchase all of the Debentures as Underwriters. Richardson Greenshields of Canada Limited Dominion Securities Inc. Burns Fry Limited Pemberton Houston Willoughby Bums Fry Bell Gouinlock Inc. Limited Midland Doherty Limited Wood Gundy Inc. Levesque, Beaubien Inc.

Richardson Greenshields of Canada Limited This advertisement is not to be construed as a public offering in any province of Canada of the securities mentioned herein. Such offering will be made only by a prospectus in those provinces where such prospectus has been accepted for filing by a securities commission or similar authority in such province..