Lethbridge Herald, The (Newspaper) - April 3, 1973, Lethbridge, Alberta
Tmtlay, April 3, 1973 THE UTHBRIOGE HERALD 13 TSE gold index hits top level TORONTO (CP) The To- ronto stock market's gold index reached its highest level of the year while other sectors de- clined in light mid-morning trading today. The gold index was up 6.30 to 245.60. The industria' index, considered a major indicator of market trends, was down .20 to base metals .03 to 100.85 and westerns oils 1.58 to 248.23. Merchandising, steel, bever- age and communication issues recorded losses while real es- tate, utility, communication and bank stocks were higher. Trading resumed in shares of Columbia Cellulose. The com- mon stock was up 25 cents, and preferred shares up 75 cents. Robinson Little lost 1% to Reitmans A Vz to Weldwood Vz to Hudson's Bay Co. to and Royal Bank V-t to S. B McLaughlin Associates rose 1 to Moore Corp. to and Canadian Breweries Vs to Among gold issues, Giant Yel- lowknife was up 20 cents to and Pamour 15 cents to Akaitcho Yeliowknife eight cents to 95 cents and Campbell Red Lake 1V4 to MONTREAL (CP) Ail sec- tors except utilities' declined in light trading on the Montreal stock market today. Combined volume on the Mon- treal ?ad Canadian stock ex- changes at 11 a.m. was shares, compared with 259.700 shares at the same time Mon- day- Papers dropped .93 to 119.67, industrials .46 to 243.49, banks .39 to 271.67 and the composite .29 to 230.60 while utilities gained .30 to 161.13. On the Montreal Stock Ex- change, Falconbridge Nickel dropped 1 to and Dome Petroleum 1 to while Simp- sons-Sears gaiisjd IVn to and Credit Fonder 1 to On the Canadian Stock Ex- change, Fallinger was un- changed at on shares. NEW YORK (AP) Stock market prices nosedived for the Hog sale Lethbridge livestock There were no cattle sales Monday due to the weekly sale cf hogs. Sales 550 hogs. All classes of weaner and feeder hogs meeting good demand at steady to strong prices. V.'ear.ers to Light feeders under 100 Ibs. 31 to 33. Heavy feeders 100 130 Ibs. 35 to 39. Heavy feeders over 130 Ibs. 43 to 49. Light feeders under 100 Ibs. sold to S60 cwt. Heavy feeders over 130 Ibs. sold ro cwt. Bred sows and gilts sold to 161 per head. Butcher hogs sold Monday at the Letbbridge yards 42.15 to 42.70 base price. One load sold for export at 32.60 live weight. third straight session today, and brokers attributed the drop to investors' continuing concern over inflation as well as a tech- nical reaction to last week's rally. The Dow Jones average of 30 industrials was off 10.46 to 925.72 at noon. Canadian stocks generally were lower. On the NYSE, Dome Mines slipped to Granby Mining Yz to and Mclntyre to Canadian Pacific, at Genstar, at and Inco, at each were down Vs. On the American exchange, Brascan gained Vt to while Canadian Javelin, at and Quebecor, at each rose Vs. Grain prices Winnipeg grain WINNIPEG (CP) All com- modities continued higher in a stronger volume of trade at mid session on tte Winnipeg Commodity Exchange today. Flax prices were up the daily maximum of 10 cents, rapeseed gained up to 8% cents, oats and barley posted fractional advances and rye worked one to two cents, higher. Monday's volume of trade was bushels of flax, of rapeseed and 000 of rye. MID-SESSION PRICES Flax: May 10 higher July 10 higher 4.33B, Oct. 10 highsr Nov. 10 higher Rapeseed Vancouver: June 8% higher 3.94B, Sept. high- er 3.90. Nov. 7 higher 3.71B, Jan. not open. Rapeseed Thunder Bay: May RVz higher July 8% higher Oct. 5% higher 3.58, Nov. hJgher 3.27y4B. Oats: May unchanged 1.15A, July higher Oct. 1% higher 1.08A, Dec. IVi higher Barley: May higher July 1% higher Oct. s higher 1.51T'8B, Dec. not open. Rye: May 2% higher 1.5094A, July 1% higher Oct. higher 1.51A, Dec. not open. Grain quotes Monday (basis 423 418% FOR. SALE Trucking Business Steady yeor round for two units to be sold with business BOX 136, HERALD Low Close Flax May 418 Jly 423 414 Oct 418% 412 Nov 397 392 Rapeseed Vancouver Jun 385V4 376% Sep 381% 373% 381% Nov 364 355 364 Jan 356% Ropeseed Thunder Bay May 364 356% Jly 36278 362Ts Oct 352% 346 352% Nov 326 Oats May _ Oct 1067i Dec 105% Barley May 1527s Jly Oct Dec Rye May MS3J, 142% Jly 1507J 1 Oct 149U 141'i Dec 115 112 1067s 105-k 152-s 1515s 148's 1507s 149 4. NOTICE CURRIE'S FOODS Will Be Closed All Day Wednesday, April 4th Due to the death of our father Neil Currie Walter Uoyd Currie Canadian stock trading value up billion Busy market Some people work on the American Stock Ex- change trading floor in New York, where millions of dollars in securities are traded daily throughout the world. The total value of Canadian stocks traded on the change jumped by a whopping billion in 1972. ex- Oil refineries stalled by WASHINGTON (CP) The but despite its growth in under construction. United States is the most oil- mand and its industrial usual in such situations, hungry country in the there is not a single new oil is blaming everyone i A The U.S. consumes one-third Miscellaneous the world's oil production, nearly 15 million barrels a day. Industry calculations show Vancouver, Calgary, will increase by 8.3 mil- (Supplied by Doherty. McCaaig barrels a day by 1985. Despite the rising demand, LAST BID OR last oil refinery to go on a.m. Quotes) t.m. Quotes) a.m. in the U.S. was a 160.0W- WESTERN OILS Cyanus A 7.75 Cdn Inv Fd 5.28 costing an AND MINES Cygnus B 7.75 Coll Mutual 6.33 which Atta East Gas 9.7S Falcon Copper 13.50 Comm Inter 15.59 17.13 Alminex F and W Trust 6.75 Comm Lever .4.05 into production in Joliet, Asamera 11.25 Genstar 17.37% Comm Vent 8.04 in December, 1972. Ashland Home A a.6VA Corp Invest 6.43 7.06 BP Canada Home B 38.75 Corp In St Fd 5.42 Brenda Mines 5.10 Hud Bay Co 22.00 Drey Fd U.S. 11.83 oil industry spokesman, queried on the situation, said Can South 4.80 Hud Bay Oil 47.25 Gr Pacific 4.93 5.39 Cdn Ex Gas 4.15 Hud Bay A Pfd 54.50 Gr In Shares 4.21 4.63 Cdn Homestd 7.80 Hugh Russell 46.25 Equity 8.80 main roadblock to refinery construction is "emotional, Cdn Ind Gas Oil 8.62% Husky Oil 21-75 nv Gr Fd 12.90 14.11 Cdn Long Is .28 Husky B Pfd Inv Mutual 6M 6.62 Cdn Super 52.75 HusKy D War 7.60 Mut Accum sentimentality" on the part of the environmental- Charter Oils 4.00 Husky War 9.00 Mu.f Fd Chieftan 12 on inter Prov Pipe Res 8-''J Dome Pete 40.50 Inter Prov Steel 14.25 QUOTAS Dynasty 9.95 Kaiser Res 3.25 N AV. Fort Reliance .35'A Loblaw C Pfd 29.75 researcher, close to the en- Giant Mascot 3.35 Magnasonics 13.50 e IRK Granisle 9.75 Pacific Pete 33.25 ?'2 Gt Plains 34.50 PW Air 10.50 f groups said: "The real villain is the import Gt Cdn Oil S 8.50 Rainier Inc 5.00 varauard 714 7 The oil firms were slow Lochiel 3.00 Royal Trust 25.25 Lytton Mln 1.75 St. Maurice Cap 1.05 finance refinery construction Noble Mines 1.50 Sandwell 4.10 Aero" assurances they could North Cdn Oils 7.10 Teledyne 4.85 Numac 17 West Cdn Seed Norm Com the crude and they Pancdn Pete 15.25 Westfield Min 1.26 We3' Warner foresee the vastness of Pan Ocean 15.12V? Weston A Pfd 64.25 increase in demand." Petrol 1 33 White Yukon 14 25 Pinnacle ".20 PIPE LINE STOCKS After, refinery issue, while deli- Place Gas .61 Alta Gas A 16.25 Atlas Expior .59 Ponder .35 Alta Gas Pfd 74.25 Bath Norse in parts of the U.S., Ranger Oil Alta Nat Gas 22.00 Croyden been particularly touchy Scurry Rain 17.50 Inland Nat Gas 11.75 1.20 Seibens 13.25 N and C Gas 11.25 Davenport the holiday beaches of the Soooner .51 N and C B Pfd 24.15'A Dolly .Varden Coast, one of the few Total 7.15 Pacific Trans 12.50 Equitorial Res .21 Ulster 1.07 Gez Metro 4.95 Lornex major playground West Pete 8.75 Gar Metro A 67.00 Primer for the most heavily pop- W. Dscalta 5.30 Trans Cda Pipe 40.25 Pyramid .19Ki MISCELLANEOUS Tr Cda A Pfd 75.00 Silver Stan .72 INDUSTRIES Tr Cda B Pfd 41.50 Valley Copper part of the country. Van Sternbergh of the Ameri- Acres Ltd 15.7? Tr Cda War ?40 Petroleum Institute says: Aouitaine WC Trans 23.01 Cap Infer 1.90 BC Suoar Pfd 15.10 WC Trans Wts 4.90 Col Brew are 250 refineries in Block Bros 2.90 MUTUAL FUNDS UyS country. We need 50 to 55 Brmco 5.P7''3 mvivMi_ Key ipjjust .59 Cdn Brew A 27.CO All Cdn Com 7.90 8.63 refineries with about Cdn Brew B 37.7S Al Cdn Divi 8.52 9.32 Albany Oils barrels a day capacity each Cdn Pacific Inv 30.7? All Cdn Vent 4.16 Plains .24 Crestbrook Inrt n.i> Amer Gr Fd 5.83 S.40 Stam Infl Res 1985 to handle the increasing Crovwnest Ind 26.75 AGF Spec 289 West Expior Opposition by environ- is unrealistic in the Toronto mines, of today's technology. No longer are refineries by federal law they can't be." (Snpplied By Securities of Mountain, researcher LAST BID OR the energy policy project a.m. Quctes) t.m. auoies) fli-.oc t.m. the Ford Foundation, MINES Noriteala 5.65 Dofasco both with the need for Acme .17V4 Norlex .43 Cable 11. refineries and with the Advocate Asb. 1.15 Osisko .22'A Glendale that refineries have Akaftcho .91 Pine Point 30.12Vz Grt Cdn Oil Bralome 2.SO Placer Dev. 51.25 Gen Motors Brculan p.c. Exp. 3.05 Grt Lakes Pp CAYn Bethlehem 15.12Va Quebec Man Gulf Oil Cda S.ME.L.IJ Brunswick 4.75 Rayrock 1.73 Greyhound while thev're much Can. N.W. Land 7.45 Radiore .30 Hawker Sid Tung. 1.6S Rio Algom 26.S214 Hur and Eric than they used to be. Cassiar 12.50 Roman Corp. 8.60 Hiram Walker 55.00 Central Pat. 1.30 Slwrritt Gordon Imp Oil 42.00 Chimo 1.11 Rock 1.52 Imasca still looked upon as ugly and they still smell. Environ- Congest Tck Corp. 4.03 Int Nickel opposition has as much Cons. Rambler Texmcrt In? Pipe Coin tafce .y Canada 3 Inv Grp A do with the nuisance factor Cochenour .93 Western Mines 3C5 Uiil 23.87' it has with pollution. Thev're CraigmonJ v.'riqht Hargreaves 1.70 lr.d AccJp! JSJJ'j Dickenson Mines 3.J5 vvillroy 1.11 Kara not good neighbors. They Dwison Mines 34.50 V.lndf.ll -IV's laurenlide secondary dcvelop- Dw Horn Ycllo.attnife Bear 3W Kelly Doug A t.iy-i D'Eld3na .08 e n transportation com- Own- Mines INDUSTRIALS S-oMaw A storace. car plants, pet- Dor.alda .3A'a Abitibi 11.1 J' 7 A'u'nes 1.05 Alcan 7J.S71 Wessev Fera 2n firms. Malariic 7.55 Alooma H50 McVJHan Sloe industry spokesman East Sullivan PC" Ind 10 Moore Ccrp JO Falccnbridpe Atlantic Sussr t TO Molsons A 7S.C3 Frobsx .19 Acsr Ind U 75 AWMTO 8 a long list of cases in which refinery construction has Maritimes Sell Tti 77" North t Cw.t 111 wJcprf Gisnt Y.K. 6.90 Brazil Power Corp GrandiH! 3.30 B.C. Price Co. had a S300 million. Holllnper 45.tO Sums IS 50 refinery Hudson Say 22 75 8.C- SI. COTI> En. 73 C. 75.371'j by the state of Dela- Iron Bsr 3.89 Saw Val Ind 33 TO Sirno when that stale enacted a 'SO CA Irtd n.25 cff Cd" Joflili OactoR ctfn S75 A zone law about a year KVJ1 j C1 W i Gro A Anscon .75 Col C-ell V.tn Po 72 refinery proposed for Ti- Pcwrr 77.5" Union G-as R.I.. 65.000 barrels a Sllvtr .07 C.W.N. Gas P'd 11 Union Oil 14 7f Maflstn 1? .fO Ctfn Irtfl 1675 fWa was shot down by environ- G Ctfn MartDrn ft 30 The same thing hap- WiTfin McWwlf .71 Cfln VirVpn 13 51 Union Csfb '7 in Norfolk, Va.. and iu Wets .T11'- 2175 VifpotJwjirfl'it A -where the people felt Midrlm ITI'J Ti crtn Spri S 1' itfnllh was enough tanker traffic WCTKJS in Btiflac 3? HD the harbor already. j Alhons TR Cdn lTnr> 31 it was the environmen- Cftlyrnrt "5 Sctl'S ?7 7 Copper 51 POTTT Jlpr-t, ll1 ?S ?J! who stepped a proposed Moranfls 49 5fl borne 39 3717? Tor-Dtrrn in Hobokcn, i Forfc FINANCE CORPORATION LTD. j f By oPCtll if ittl flf Ave. S.W., Amr 7 T SD 50 i JO P7 yp S Alberta ?D 25 X-'Pyn 9? ID TOO 65 Tefm Finoftcirto, GuIT JJ 75 15 Oils CS 2 Chrysler Co 37fl71'? V-cflurnc cuny owowuH I Si Wltfs Corp tn'n' a .vt-.-e, WoMwrth 7? PC "Ew TOUK S25.0OO j C'7 1nd 9W 0? Gulf 5i 75 IIS "7'j n on 15 il off 262-A46S 1-rt M-rves.1pr let IS DM 1ti7 J1 ol' .JJ 1 Kcnn Copper TORONTO Mocks off Z.W 262-3908 Wont Wart 70 Ina 223.23 cW J9 VtflUTie WWW livestock Calgary livestock CALGARY (CP) Receipts at the Calgary livestock mar- ket to 11 a.m. today totalled head, mostly steers. Trade was moderately active. Slaughter steers were SI low- er with food Holsteins 37 to 38; heifers were ?1 lower; cows were scarce at barely steady prices with insufficient to es- tablish a market; bulls were steady. Al, A2 steers 41 to 42, A3 to to 41. Al, A2 heifers 39 to 40, A3 37 to 39. D3 cows 30 to 31, D4 26 to 30. Good bulls 35 to 37.25. Replacement cattle were mostly fleshy, short keep steers 900 to 1.000 pounds at lower. The few stock calves of- fered were mostly heifers at steady prices, quality consid- ered. Good feeder steers more than 750 pounds 40 to 42, less than 750 pounds 44 to 48.50. Good feeder heifers more than 550 pounds 37 to 41. Good stock heifer calves more than 400 pounds 43 to 46. Hogs base price 40.50. Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon today was down 3-50 at 9-10. Pound sterling down 1-5 at 9-20. In New York, the Canadian dollar was up 3-50 at 1-10. Pound sterling down 1-20 at 7-10. By GEORGE KITCHEN NEW YORK (CP) The total value of Canadian stocks traded on the American Stock Exchange jumped by a whop- ping billion in 1972 to from in 1971. At the same time, their per- centage of the total market value of all stocks listed on the exchange rose to 29.34 from 22.41. Total value of all issues was The Amex traditionally has been the largest U.S. market for trading in foreign stocks and Canadian issues tradition- ally have been among the leaders in the foreign section. Of the 68 foreign issues cur- rently handled by the ex- change, 50 are Canadian. These 50 Canadian stocks at the end of 1972 constituted only 3.52 per cent of the ex- change's issues, but ac- counted for 4.10 per cent of all trading volume during the year. Of the shares which changed hands on the Amex, were Cana- dian. In the 49 Canadian issues then listed accounted for 5.08 per cent of sales vol- ume. HEAVILY TRADED Three new Canadian issues were added to the exchange last Interna- tional Ltd., Wainoco Oil Ltd., and Quebecor, Inc. Two Cana- dian stocks were dropped from the ite Corp. of Canada Ltd., and Consolidated Canadian Fara- day Ltd. Two Canadian issues were among the exchange's top traders. Calgary-based Asamera oil was llth in Amex volume with shares traded. Asamera was the individual volume leader in 1969 and 1970 'and ranked fourth in 1971 with' shares. An old-time favorite, Impe- rial Oil, ranked 12th in 1971 but slipped to 13th place in 1972 with shares traded. Dome Petroleum was 72nd with shares and Brascan was 91st with The Amex is undertaking a major program to attract more foreign listings, mostly from Europe and Japan. The program has been accelerated by the Nixon administration's recent proposal to abolish the 10-year-old interest equaliza- tion tax on foreign securities bought in ttie United States. At present, a U.S. citizen purchasing shares of a foreign company from a foreign owner must pay a tax of ir.25 per cent of the purchase price to the U.S. government LOOKS TO CANADA Bernard H. Maas, Amex vice-president who heads the securities division and spe- cializes in aon-U.S. securities, said Canadian companies would be one of the targets of the new campaign. "We are interested in any good sound Canadian com- he said in an inter- view. "We have one Canadian company under consideration, now and are exploring a cou- ple of others." Maas said the exchange of- fered Canadian companies constant exposure before the New York financial commun- ity and thus quick access to a pool of financing if they should need new capital in the future. An Amex listing improved a corporation's position and credit rating in the United States, expanded its capital base and tended to increase its international orientation. Hog prices EDMONTON (CP) Aver- age prices to 11 a.m. today provided by the Alberta Hog Producers Marketing Board. Edmonton: 40.50, average Monday 41.34. Red Deer: 40.50, average Monday 41.13. Calgary: 40.50, a v e r a ge Monday 41.16. Lethbridge: No sales, age Monday 42.44. Fort Macleod: No sales, av- erage Monday 42.15. Total hogs sold to 11 a.m., 604, sold Monday aver- age 41.37. Sows average 33.45. 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