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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 16, 1973, Lethbridge, Alberta pace Industrials market advance TORONTO (CP) Prices on the Toronto stock market moved fractionally higher in light mid-morning trading to- day. The industrial index, consid- ered a major indicator of mar- ket trends, was up .27 to 223.97 and base metals .19 to 102.82. Golds were down 1.32 to 237.88 and western oils .06 to 243.57. Volume by 11 a.m. was 000 shares compared with 000 traded at the same time Friday. Advances and declines were even at 102, while 1S5 issues re- mained unchangd. Bank, communication, bever- age and steel issues were among sectors of the market recording gains while chemical, industrial mining, oil refining and paper and forest stocks were lower. Newfoundland Light and Power rose 1 to Okanagan Helicopters to Interpool to Thomson Newspapers to and Magna Electronics to Home Oil A fell to Reader's Digest yz to S26, Ver- satile Manufacturing A to Chrysler to and Gulf to Gibraltar was up Vt to Pan Central 15 cents to and Brenda 10 cents to Pure Silver Mines dropped 15 cents to and Falconbridge Copper Vs to Sogepet slipped 25 cents to and Canadian Homestead five cents to United Canso climbed 10 cents to MONTREAL (CP) All sec- tors gained in light trading on the Montreal stock market to- day. Combined volume on the Mon- treal and Canadian stock ex- changes at 11 a.m. was shares, compared with 375.900 shares at the same time Fri- day. Banks gained 2.39 to 277.11, utilities .63 to 159.85, the com- posite .50 to 231.12, papers .32 to 322.14 and industrials .13 to 243.88. On the Montreal Stock Ex- change, Fraser gained 7s to Mercantile Bank to Cominco to and Bank of Commerce to On the Canadian Stock Ex- change, Invictus Oils was un- changed at on shares. NEW YORK (AP) Stock market prices drifted lower to- day in a lacklustre market. The Dow Jones average of 30 industrials at noon was down 2.93 at S56.4. Advances led de- clines on the New York Stock Exchange by a small margin. Among Canadians on the New York exchange, Alcan was up Vs to Mclntyre to and Canadian Pacific to Dome Mines slipped Vs to Inco to and Gen- Star tO On the American exchange, Neonex dropped Vs. to Former IRA chief freed From AP-REUTER DUBLIN (CP) Sean Mac- Stiofain, former chief of staff of the outlawed Irish Republican Army, was released from jail today and said: "I remain an unrepentant Repuglican separa- MacStiofain, 44, looked pale and drawn from his 59-day hun- ger strike. "I'm not well physically but hi good he said. His wife Maire picked him up at the military jail at the Cur- ragh, an army camp west of Dublin. He declined to comment on his future with the militant Provisional IRA. But he added: "I still stand for the same as I did when I went to prison.' Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, McCaaig Limited) LAST BED OR SALE a.m. Quotes) Quant a.m. Quotes! WESTERN OILS AND MINES Atta East Gas Atmlnex Asamera Ashland Brenda Mines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charter Oils rhieftan Pete Dynasty 9.65 6.05 11.50 6.20 4.45 3.90 7.50 8.25 .18 54.00 4.00 Cygnus A Cygnus B Falcon Copper F and M Trust Genstar Home A Home B Hud Bay Co Hud Bay Oil Hud Bay A Ffd Hugh Russell Husky Oil Husky B Pfd Husky D War Husky 6 War Fort Reliance Giant Mascot Granisle Gt Plains Cdn Oil 5 Lochlel Lytton Min Noble Mines North Cdn Oils Numac Pancdn Pete Pan Ocean Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Seibens Spooner Total Ulster West Pete W. Decalta MISCELLANEOUS INDUSTRIES Acres Ltd Aquitaine BC Supar Pfd Block Bros Brinco Cdn Brew A Cdn Brew B 38.62V2 Inter 9.50 Inter .39 3.1 S 9.75 34.50 8.70 2.40 1.56 1.18 7.31) 16.75 14.50 15.00 1.35 Prov Pipe 10.50 Prov Steel 14.25 Kaiser Res Loblaw c Pfd Maqnasonies Pacific Pete PW Air Rainier Inc Royal Trust St Maurice Cap Sandweil Teledyne West Cdn Seed Westfield Min Weston A Pfd White Yukon .57 Alta Nat Gas .40 Alta Gas Pfd 27.87V2 Alta Nat Gas 17.50 inland Nat Gas 13.00 N and C Gas .53 N and C B Pfd (S.95 Pacific Trans .98 Gaz Metro 8.00 Gaz Metro A 5.40 Cda Pipe Tr Cda A Pfd Tr Cda B Pfd It Tr cda War WC Trans 15.00 WC Trans Wts 7.75 Col Mutual 6.15 4.75 7.75 Cmnw Inter 15.41 16.93 14.0U Cmnw Lev 1.05 4.45 7.00 Cmnw Vent 8.02 8.81 17.25 Corp Invest 6.43 7.06 40.50 Ccrp In St F 5.40 33.50 Dreyfus F U S. 1? 1! 13.27 G'eat Pacific 4.92 5.33 Gr In Shares 4.16 4.58 5400 Gr Equity 8.66 7.51 16.50 Invest Gr F 12.90 14.10 21 00 Invest Mutual 6.06 6.63 Mutual Ac 4.37 7.00 7 oo Mutual Gr F 3.M 4.33 Nat Res 8.15 8.91 N W Cdn 5.75 6.32 N W Gr 5.4i. 5.98 Principal Gr 4.88 5.35 Royfund 7.05 7.34 Temp Gr 9.42 10.30 United Ac 5.43 5.97 Universal Sav 8.31 M3 Univest 6.14 6.75 Vanguard 7.05 7.72 CALGARY .57 9.10 3.00 13.00 32.75 10.75 1.10 3.95 4.80 15.00 Barons Oil North Continental Western Warner VANCOUVER MINES Afton Atas Expor Bath Norse Croyden Dankoe .03 .01 .36 Varden Eguitoria Res 'CQ Lornex '2.75 standard Valley Cocper INDUSTRIALS Cdn Pacific Inv 29.75 Crestbrcok Ind 8.50 Crowsnest Ind 27.25 Capt Inter i-50 Columbia Brew 3.10 MUTUAL FUNDS Hys Cdn All Cdn Com 7.87 8.53 Key Indust All Cdn Divid 8.40 9.18 OILS All Cdn Vent 4.11 Albany Oils Amr Gr F 5.82 6.3? Plain: Pete AGF Special 2.85 Stampede Intl Res Cdn In Fund 5.31 5 82 West Explor 8.20 .56 .82 .06 1.30 .60 .30 .19 9.65 .18 .16 .70 9.75 1.70 3.45 27.00 32.75 .32 1.12 .25 .67 .07 Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon today was un- changed at 50.99 47-50. Pound sterling unchanged at S2.48 1-20. In New York, the Canadian collar was unchanged at 3- 50. Pound sterling unchanged at 1-5. (Initial Amount) (20-Year Decreasing Convertible Term IT WOULD PAY YOU TO COMPAQ THIS WITH ANY OTHER TERM PLANi MONTHLY PREMIUMS (P.A.C. Plan) Age 21 Age 10.06 Age Age IS. 74 Age Age KEN BELSHER OCCIDENTAL LIFE of CALIFORNIA 439A HOLIDAY VILLAGE Phone 328-0944, Res. 328-0994 Toronto mines., industrials (Supplied By Richardson Securities of Canada) LAST BID OR SALE a.m. Quotes) MINES F.m. a.m. Quotes) Acme Advocate Asb. Akaitcho Bralorna Brouian Bethlehem Brunswick Can. N.W. Land Canada Tung. Cassiar Central Pat. Chimo Congest Cons. Rambler Coin Lake Cochenour Craismont Dickenson Mine Denison Mine Deer Horn D'Eldona Dome Mines Aldona Discovery Men'-. East Malartic East Sullivan Falconbridge Frofcex First Maritimes Giant Y. K. Eovis Granduc Hollinger Hudson Bay M S Hydra Ex. Iron Bay Iso Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R. L. M3lartie G. F. Martin McNeely Mscintyre Mafa Midrim Intern Moaul Nu West Homes New Athona New Calument W Horse Copper Noranda Northgate .16 Norlex 1.15 Osisko 1.18 Pine Point 2.60 Placer Dev. .35 P. C. Exp. 14.50 Quebec Man Rayrock 6.85 Radiore 1.98 Rio Algom 11.50 Roman Core. 1.16 Sherritt Gordon 1.31 Sieep Rock 6.65 Tek Corp. 4.15 Texmont .18Vi Upper Canada .77 Western Mines 6.65 Wright Hrgrvs. 3.50 Willroy 34.00 Windfall Yellowknife Br Zenmac INDUSTRIALS .44 78.00 .40 1.10 6.35 Grt Cdn Oil Gen Motors .22 Grt Lakes Pp 31.50 Gulf Oil Cda 55.00 Greyhound 3.10 Hawker Sid .12 Hur Erie 1.20 Hiram Walker .32 Imp Oil Imasca 8.30 IntNicke! 17.25 Int Pipe 1.65 Inv Grp A 3.90 Int Util Ind Accept 2.96 Kaps 3.00 Laurentide 1.10 Kelly Doug A 1.1? Loeb .10 Lotlaw A 3.9S Met Stores Massey Ferg McMillan Bloe 2.95 73.50 2.65 3.60 48.50 .23 .24 3.80 2.42 Abitibi Alcan Algoma Steel Atco Ind Atlantic Sugar Agra Ind Bell Tel 7JS Brazil Trac B.C. Tel Burns B.C. Forest B.C. Sugar Bow Val Ind CAE Ind C.W.N. Gas Cdn Ind Cdn Marconi Cdn Vickers Chrysler C.P.R. Corninco Cons Bath Cons Gss Dist Seagrams Dom Bridge Domtar Dom Textile Dom Stores Dome Pete Dcfasco .06 .72 .85 .26 53.75 .12 .U 14.75 10.50 .17 11 Moore Corp 2750 Mclsons A 1712V2 Molsons B 11 25 Nachurs North Cent 1225 Power Corp 43.75 Price Co 01 vjv, Rothmans 5375 St. Law Corp 1B.50 Shell CDA 37.1 Simpson s 20 en Simp Sears M Steel of Cda Selkirk A Pfd 11.25 Texaco Traders Grp A 410 "tons Mtn Pp 13-25 Trans Cda Pp Union Gas 18 VIA Union Oil United Siscoe versatile Mfg Westeel Union Carb Weston's B Woodward's A 9T2Vi West Cdn Seed Zenith E'er BANKS 38.50 Cable 3.65 Ford of Am 50.50 Glendale 10.75 Nova Scotia Royal Tor-Dom 8.80 73.50 21.00 35.25 19.12Vi 4.40 31.50 52.00 33.25 24.75 18.62'A 8.00 12.12V2 7.25 5.00 675 2350 20.25 30.50 2875 28.00 10.87V2 12.75 15.50 20.25 34.25 61.25 19.00 16.75 880 6.00 29.75 22.CO 29.25 2.70 36.50 36.75 34.62VJ Neic York stocks (Supplied By Richarffson Securities of Canada) Amr T and T Anaconda Beth Steel Chrysler Comsat Dupcnt GM Gulf Int Harvester Copper 101.00 20 Golds 237.14 off 2.0S 23.37Vi 10 Base Met 102.96 up .33 39.25 15 W Oils 243.50 off .13 18.75 Volume 22.00 UEW YORK" AVERAfiP< 174.75 Westinghouse Elec 34.75 Steel 33.50 Indust 954-62 off 4-73 Gen Flfc 7812'A zo Rai's 198-31 o" '-S7 30.i2ViIT' 15 Utilities 109.40 up .25 TORONTO AVERAGES off 1-33 52 BTVi Sears 21.62Vi Texas Gulf 29.75 Texas Co Wickes Corp 52.25 Wociworth Table grape boycott to be renewed 1NDIO, Calif. (AP) Farm labor organizer Cesar Chavez says he plans a mass exodus from the fields and a renewed table grape boycott after an an- nouncement that contracts won with growers in the Coacbella Valley have been lost to the Teamsters Union. Chavez's United Farm Work- ers Union (AFL-CIO) won the first farm labor contracts with grape growers in U.S. history hi 1970 following a two-year boy- cott, strikes and some violence in the fields. A Teamsters spokesman an- nounced Sunday that his union has signed field worker con- tracts with 85 per cent of the table grape growers in this fer- tile southeastern California area, providing for an imme- diate pay increase to an hour from Two major growers said they renewed contracts with UFWU early Sunday, but a union spokesman said no final agree- ments have been reached. The UMWU's contract with the val- ley's 15 table grape producers expired at midnight Saturday night after several weeks of ne- gotiations. The union has been asking an initial raiss to the maximum provided in the Teamsters' four-year pact. The valley produces about three million boxes of Califor- nia's annual table grapa har- vest of 25 million boxes. From May through July, the region produces about 80 per cent of the U.S. domestic grape supply. Grain prices Winnipeg grain ._ ______ Montgomery Ward 20 Indus 223.71 up .01 Volume 129 million bushels of Grain and you reap the benefits! WV'i ALBERTA WHEAT POOL has distributed CASH REFUNDS and OTOWPATRONAGE REFUND'OF RESERVE CREDITS OK j WINNIPEG (CP) seed turned lower in light trad- ing at mid-session on the Win- nipeg Commodity Exchange. Both Thunder Bay and Van- couver futures were three to rear five cents lower as buy- ers were absent from the mar- ket. Exporters appeared in flax. Prices moderated slightly and were only one to cents low- Rye was up more -than a cent and steady in light trading. Feed grains were steady and featureless. Friday's volume of trade was bushels of flax, of rye and of rape- seed. Mid-session prices: Flax: May 1 lower 4-68B; July 2 lower 4.61 %B; 1 lower 4.58 %B; Nov. 1 low- er 4.52A. Rapeseed Vancouver: June 4 lower 3.77 VsA; Sep. 4 low- er 3.77A; Nov. 4 lower 3.72 A; Jsn. 3 lower 3.68 %A. Rapeseed Thunder Bay: May 4 y4 lower 3.63; July 3 low- er 3.62A; Oct. 4 7s lower 3.54 ysA; Nov. lower 3.54A. Oats: Unchanged 1.15 %A; July lower 1.13 %A; Oct. and Dec. not open. Barley: May unchanged 1.54 %A; July H higher 1.53 %B; Oct. Vs higher 1.52 %B; Dec not open. Rye: May 1 higher 1.52 V4; July 1 higher 1.53 7s; Oct. higher 1.53 %A; Dec. no open. Livestock Calgary livestock CALGARY (CP) Receipts to 11 a.m. Monday from the Calgary public stockyard show sales of 100 head, mainly cows. Trade was active. There were in s u f f i cient slaughter steers or heifers on offer to establish quotations. Cows sold fully steady with sales of heifery kinds to 35.50. Preliminary slaughter fig- ures for the week ending April 14: Alberta hogs Beef 995. Canada hogs Beef 50 554 Cows Dl and 2 33 to 34.40, D3 31.25 Jo 32.75, D4 Z7 to 31. There were insufficient re- placement cattle on offer to es- tablish a market and no stock calves on offer. Hogs sold fob Calgary to 11 a.m. average base price 43.85. Monday, April 16, 1973 THE LETHBRIDGE HERALD Cheap energy of the past won't exist in the future 4 724c per bushel on Wr-p cash 3 224c reserves of dollar value o< c natrons (1.25% cash 2.75 2 of dollar value of f patrons '200% reserves i. Barley Fist Rye Rapeseed 5c icaH purchased from the Poo1 by member reserves i i'iye-r frprr the Per' by member Hog prices EDMONTON {CP) Aver- age prices to 31 a.m. today pro- vided by the Alberta Hog Pro- ducers Marketing Board. Edmonton: 43.90 average Fri- day 45.75. Rod Deer: 4390 average FYi- day 45.38. Calgary: 43.85 average day 45.08. LJoydminster: N i 1 average Friday 45.J5. Total hogs sold to Jl a.m. 3.368. Total hogs soM Friday, Average 45.43. Sows av- erage 55. NEW YORK (CP) cheap energy of the past will not exist in the future, no mat- ter who controls the action. A major factor is the vast spend- ing required for exploration to replace fast-depleting reserves. The Chase Manhattan Bank estimates the non-Communist world's petroleum industry will have to spend a trillion dollars between 1970 and 1985 to keep pace with the demand for oil and gas. Canada alone will require billion in investment funds to meet tiie needs of its oil and natural gas customers. The figure for the United States is than the entire gross assets of the world's present-day oil and gas industry. In 1971, about 63 per cent of the world ownership and 63.6 per cent of the Canadian in- in the hands of U.S. corporations, Chase Man- hattan says. But the bank's economists say profits are just not enough to pay for needed expansion. DEMAND TO DOUBLE Between 1970 and 1985, world demand for oil and natural gas is expected to more than double compared with the 1955-70 pe- riod, says Chase Manhattan, considered the foremost "oil bank" in the U.S. David Rockefeller is chair- man of Chase Manhattan and four of the bank's directors are oil executives connected with large oil Atlantic Richfield, Royal Dutch and Indiana Standard. The petroleum industry's 1971 gross investment in fixed assets worldwide totalled billion, up billion from 1970. U.S. corporations controlled the lion's billion. In Canada, the industry's gross fixed assets were placed at billion, with the U.S. controlling billion. While the U.S. consumes two- thirds of the world's petroleum production, it cannot produce all it needs. It imports 40 per cent of its crude oil. The oil-rich Middle East is the biggest sup- plier, and billions of U.S. dol- lars flow to the Arab world to pay for the oil. It has been estimated that within the next 10 to 15 years, the U.S. may be spending billion or more a year for Middle East oil. SPECULATE WITH DOLLARS During the recent dollar crisis, billions of U.S. dollars from Middle East accounts were changed for West Germem marks and other hard cur- rencies and into gold. Just how much of the oil-pay- ment money was involved is not known, but it is bound to rise in future years. John Emerson, a Chase vice- president, estimates the crude- oil production of the Middle East will double by 1985. If these countries spend half their annual income from oil on economic development and in- vestment, their reserves of gold and foreign exchange will grow to more than billion by 1985. Emerson notes the entire cur- Ford owners unhappy WASHINGTON (AP) Ford Motor Co.'s "No Unhappy Own- ers" advertising campaign is under attack from some un- happy owners. They are current and past drivers of Cortinas, the English- built compact automobiles that gave way to the Pinto in 1571. The Cortina owners Action Committee, whkh claims to speak for 800 disgruntled Tord Customers, has been figating with Ford- in court since De- cember over the availability of parts and servicing for ths esti- mated Cortinas built be- tween 1965 and 1970 and still on the road. The committee filed suit for damages on behalf of 10 spe- cific Cortina owners as well as all other. Cortina owners. Parts and service are next to impossible to obtain, com- plained the action committee. Ford says it has offered 1970 Cortina owners a bonus certificate toward the purchase of new Ford. Now the Cortina owners have filad a second suit against Ford's advertising campaign entitled "No Unhappy Owners" and keyed to its customer serv- ice program. They asked the court for an injunction halting the advertis- ing campaign. rent world reserves total billion and emphasizes the ex- tent to which the power and in- fluence- of the Arab countries in the world of finance will grow. Of the trillion dollars Chase Manhattan estimates it would cost the petroleum industry to meet energy requirements be- tween 1970 and 1985, billion would have to come from out- side the industry. NEED TRILLION "Within the framework existing economic and political circumstances, there is no basis for believing the petroleum dustry can possibly generate from all potential sources the one billion" dollars it apparently will need between 1970 and says the bank's energy economics .division. "And, in that event, it would be unable to provide all the pet- roleum the world's markets will require. Without enough petro- leum, the economy and living standard of any nation would suffer." In its 15-year projection for the Canadian industry, Chase breaks down the billion needed this way: crude oil and natural gas production, lion; natural gas liquid plants, billion; pipelines, billion; refireries, billion; chemical plants, billion; billion; other, billion geo- logical and geophysical expense and lease rentals, billion. The Western Hemisphere wfll need billion in capital and exploration funds for the 15 year period including bil- lion for refineries. "Much of the oil and natural gas that will be needed has not yet-been the bank says. "To a major degree, the search will have to be con- ducted deeper in the earth, in more remote regions and in off- shore areas. In each case, the investment required will be much greater than the amount needed for smaller-scale efforts of the past." SALESMAN Farm Machinery Manufacturer requires a Sales Representative to cover Alberta and Montana. Applicant must be free to travel. Farm machin- ery sales background useful, but will consider a per- son with related sales experience. Late model car re- quired. This position offers a basic salary, travel ex- penses, car allowance and other company benefits, plus commissions. Only persons interested in earnings in excess of to per year need apply. REPLY setting out full particulars as to past age, education, marital status, etc. to Box No. 17, Lethbridge Herald the TOYO Z-6 steel belted radial gives you 4 promises: mile written guarantee 2. Better cornering stability and increased resistance to road hazards. 3. A bigger foot print with- out tire distortion, giving more traction and better braking on dry, wet or snow covered roads. 4. Less rolling resistance which means a noticeable reduction in gas consumption TOYO LEONARD TIRE MART LTD. 1902 2nd S. PHONE 327-3580 Man invented the wheeL.Toyo perfected the tire. ;