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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 25, 1973, Lethbridge, Alberta Aprlf 25, 1973 THE lETHBRIDGE HERAiC 21 Gold stocks push to record levels TORONTO (CP) Gold is- sues continued their push to record-high levels while other prices on the Toronto stock market sagged in moderate mid-morning trading today. The gold index advanced again, up .04 to an all-time high of 279.23. The industrial index. considered a major indicator of market trend, fell 1.08 to 220.82, base metals .44 to 102.97 and western oils 2.71 to a new low for the year of 238.89. MONTREOL (CP) All sec- Volume by 11 a.m. was tors declined in light trading on IVi to S15V4, Camflo Mines 20 cents to Roman Corp. 10 cents to Northgate Explor- ation five cents to 56.10 and United Canso five cents to Giant Mascot was up 10 cents to Agnico-Eagle 10 cents to Madsen Red Lake eight cents to 92 cents, Ranger Oil to and Spooner Mines one cent to 50 cents. 000 shares compared with 000 traded at the same time Tuesday. Real estate, banks, food proc- essing, trust and loan, utility, chemical and industrial mines led sectors of the market down- the Montreal stock market to- day. Combined volume on the Mon- treal and Canadian slock ex- changes at 11 a.m. was shares, compared with 370.100 shares at the same time Tues- ward while communication, day. beverages and steel recorded! Banks dropped 1.04 to 269.51, 1 industrials .77 to 241.04, the composite .70 to 288.20, utilities On its way gains. Declines were more than .28 to 158.88 and papers .04 to 121.64. Pacific Petroleum dropped 1% to International Utili- ties 1% to and Keen In- dustries to while Grafton gamed to On the Canadian Stock Ex- change, Gaspe Quebec was un- changed at Sl.05 on 10.200 shares. double advances. 158 to 71, while 209 issues remained un- changed. PACIFIC DROPS Pacific Petroleum fell to Texas Gulf to Con- sumer's Distributors 7's to Aquitaine to and Inter- national Utilities to Mercantile Bank advanced to Westinghouse Canada to and Toromont Indus- trial five cents to S310 NEW YQRK (Ap) _ Sigma Mines Quebec dropped j maAjA more sharp declines today, then be- gan to show signs of puiiing out of the tail spin of the previous two sessions. The noon Dow Jones average j of 30 industrials stocks was off j 5.64 at 935.13 after having been I down as much as 6.77 earlier. j Among Canadians on the I NYSE. Dome Mines was down 7s to Genstar to and Inco to On the American exchange. Livestock A de Hovilland Twin Otter, the short take-off and landing (STOL) craft which can carry up to 11 passengers, gets finishing touches at de Havilland's plant at Downsview, Ont., before delivery to Japan Southwest Airlines in Japan. While waiting further orders from southeast Asia, the firm is building two prototype DHC-7 STOL aircraft which carry 48 passengers and take off from runways that can be as short as feet. Egypt ready to proceed with oil pipeline project New York Times Service CAIRO Egypt now has suf- fienciently large commitments from potential users to push ahead with her much delayed project for a 200-mile oil pipe- line from the Red Sea to the Mediterranean. Texaco and Standard Oil of California have initialled users' contracts, committing each to serve as a partial substitute for the Suez Canal, closed since the 1967 Arab-Israel war, and later the canal is to supplement it. There will be deep-sea terminals capable of accommodating super tankers at both ends, at Sukhna just south of Suez city and Sidi Krer some 20 miles west of Alexandria. The next step is to be new negotiations between Egypt and the consortium in the diffi- cult question of financing the cost increase since the project was first planned and biris from contractors were submitted. tons of crude oil annually. This pushed the pledged total of oil to be put through the line to 63.5 million tons, or 3.5 million above the minimum sti- pulated by the French led con- sortium of bankers that agreed in principle almost two years ago to finance the project. The bankers said at the time that they would sign a final agreement only after Egypt had lined up contracts for minimum annual usage of 60 million tons; the planned initial capac- ity of the pipeline is 80 million tons. The cost of the line was esti- mated two years ago at million, but at present prices it would be much more. bound area market for Alberta oil expected VANCOUVER (CP) E. C. Kurd, president of Trans Moun- tain Pipeline Co. Ltd., told the company's annual meeting that he expects a market in Wash- ington's Puget Sound area for Alberta crude oil even after Alaska crude is being deliver- ed to the United States Pacific Coast by tanker and the Alyes- ka Co. pipeline. He said the increasing Cali- fornia demand for oil is likely to absorb Alaskan supplies, leaving the Puget Sound mar- Iket to Canada. The pipeline is intended to I Mr. Kurd told shareholders Steel company profits up Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Ooberty, McCuaig Limited) a.m. Quotes) LAST BID OR SALE a.m. Outfits! m.-oc CALGARY (CP) Receints Scurry-Rainbow dropped Vs to J on the Calgary Livestock mar- ket to 11 a.m. today totalled i 850 head: mostly slaughter cat-1 tie Trade was strong and ac- j live. Slaughter steers were fully steady with a few cross-bred animals to 43.90; good dairy- types 48.50 to 49.70. Heifers were 25 cents higher; cows were steady with sales to 35 and bulls were steady. Al. A2 steers 42.75 to 43.50. A3 41.50 to 42.50. Al. A2 heif- ers 41 to 41.90, A3 39.75 to 40.75. Dl. D2 cows 33 to 34.50. D3 31.50 to 32.75. D4 .27 to 31.25. Good bulls 36 to 38.75. Replacement cattle were mostly steers in the 800 to 900 pound range and heifers 600 to 700 pounds. Prices were steady. Insufficient stock calves of- fered to establish a market. Rve uquidatipn Good feeder steers more than j Pressure and was 3% to 1% 750 pounds 40 to 44. 575 to 7501 lower, pounds 44 to 48. Good feeder! Oak barley fluctuated heifers more than 550 pounds I fractionally In light, mixed Grain prices Winnipeg grain WINNIPEG (CP) Oilseed prices moderated slightly at mid-session on the Winnipeg Commodity Exchange today. Rapeseed was up nearly seven cents in Vancouver con- tracts while Thunder Bay was steady and about four cents higher. Flax was five cents higher j in the old crop, dropping to cents below tile previous close in the new crop. WESTERN OILS AND MINES Alta East Gas Asanera Ashland Oil Gas B.P. Canada Brsnda Mines Cda South Cdn Export Gas Cdn Homestead Cdn. Ind Gs Oil Cdn. Long island Cdn Superior Charter Oils Chieftan Dome Pete Dynasty Fort Reliance Giant Mascot Granisle Great Plains Grt Cdn Oil Snds Lochiel Expl. Lvtton Minerals Noble Mines North Cdn Oils Numac Psncd.i Pete Pan Ocean Petrol Pinnacle Place Gas Ponder Ranger Oil Scurry Rainbow Seifcens Spooner Total Pete Ulster Pete Wesfcoast Pete West Decaita Cygnus A Cygnus B 9.20 Falcon Cop 5.95 Farm Merch Tr 11IZ'A Gsnstar 13.75 Home Oil A. 1550 Home Oil B X.50 Hudson Bay Co 21 25 Hudson Bay Oil 'la.SO Hudson Bay A Pfd 55 25 H Russell pfd. 47.00 Oil f inns receive ultimatum 7.75 AGF Special 2.78 7.75 Can Invest F 526 577 1375 Cmnw Inter 152! 1671 7 62'A cmnw Lev 3.98 VIENNA CReuter) Eleven 17.00 Cmnw Vept 7 77 8.54 I .ji.oo corp invest 6.3s 7.01 i of the world's oil-proaucmg J million, up from million a year earlier. Bethlehem said it produced 5.72 million tons of steel in the first quarter, compared with 4.11 million in the 1972 period. 5.90 360 730 8.37 .22 Corp In St f 5.29 5.81 Dreyfus F U.S. 11.66 12.78 Gr In Shares 4.03 Gr Equity invest Gr F Husky Oil Husky Oil B pfd 5312V2 Husky Oil D war 400 Husky Oil E war 8.75 11.00 Intsr Pro P Wts 10.50 3817V2 Inter Pro S. P. 14-50 9 70 Kaissr 2.95 Loblaw 2.40 C pfd 3050 Magnascnics 12.75 Pac Pete 30 00 Pac West Air 11.25 Pe-Ben Oilfield 7 50 Rainier Inc Royal Saint Maurice Sa-idwell Teledyne West Cdn Seed Westfield Min 320 9.75 3250 8.E5 252 1 40 1 18 800 1575 14.50 14.25 1 32 .37 .63 38 2725 21.12Vz Invest Mutual 13 l2Vj Mutual Ac 7.15 Mutual Gr F Nat Res N W Cdn N W Gr Principal Gr Royfund Temp Gr United As Universal Sav Vanguard CALGARY Acroll Barons Oil North Continental Western Warner VANCOUVER MINES Afton countries have issued a 8.60 ultimatum to tfce Western com- j "'racial tnat market their oil toi M9 i COIDe UP a f0rmula t0 NEW YORK (AP) hem Steel Corp., the second largest steel producer in the United States, said its profits for the first quarter were up 62 per cent from a year earlier, rising to million or 91 cents a share. In a statement issued in New York, Chairman Stewart S. Cort said the results reflected sub- stantial boosts in orders, pro- duction and shipments. In the same quarter last year. Bethlehem listed earnings of I Jjjjf; million or 56 cents a i share. j The company's revenues for i the 1973 first quarter werej Insurance firm's sales there is every reason to ex- pect the proposed Alyeska pipe- line from the Alaskan north slope to Valdez to go ahead and its impact on the Trans- Mountain market may be felt sometime in 1977 or 1978. "We have tried to forecast what effect an operating Trans- Alaska pipeline will likely have on our business. It's not pos- sible to be confident of such a forecast because of so many unkowns." Mr. Kurd said the longer the Trans-Alaska pipeline is de- layed, the greater the demand will be in Calfironia. He said the future of Trans Mountain is conditioned to some extent by the fact that the four refineries in the Puget Sound area of Washington were de- signed to run Alberta -type crude oil. Mr. Kurd also told sharehold- ers that increasing efforts are being made by the company and the oil industry to protect the environment. i He said the company has de- Iclared a dividend of 30 cents a !share for the quarter ending j June 30, payable June 30 to i shareholders of record June 6. {The last dividend war 27Vz cents. WINNIPEG (CP) Great- up with a 8.W I break a price deadlock. 5.68 6.24 i'n s 25 i Tce deadline was set Tuesday night by the powerful 11-country 5 ii 5.871 Organisation of Petroleum Ex- j ducers Marketing Board. j Hog prices Beef futures Edmonton: 42.65. average] Tuesday 43.63. i Deer: 42.55, average! WINNIPEG (CP> Live beef futures close Tuesday. Calgary: 42.50. average Tues-' May 42.70A: Jly 42.75A: day 42.75. Sep 41.50A: Nov" 40.50N. Lethbridge: Nil, average! Monday's volume: No con- 'Tuesdav 43.40. tracts. OuotM) MINES RATS EAT FOOD 3.S9A: Nov. not open. Mai' 'ower July higher BUDAPEST. Hungary f AP) j and Dec not ooen. Acme Advocate Asb Akaitcho Bralorne Broulan Bethlehem Brunswck Can. N.W Land Canada Tung. Cassiar Centra! Pat. Chimo Cons Rambler Co.n Lake Cochsnoir Crainmont Oct. Tadeus Muravsky of Barley: May higher Denison Horn D'Eldona World Health Organization iold I July 'i lower 1.51aiB: 3 symposium on ral comroi thati Oct. v, higher 1.50-'SB: Dec. j the rodents destroy million uncharged tons of foodstuffs and pmentiai Rye: May 3's lower I food annually and remain a July lower 1.30: Oct. j major threat as disaase car- 1 lower I.53B; Dec. Jower j riers. 1.5JB. Falcoit-ri.-'oe PSant Y K. P-OVIS Granduc 14 1 '8 1 12 250 .38 130 1 '5 675 J15 22 '5 6 365 JJOO OB 45 90 "t O 1 71 f'f, J65 LAST BID OR SALE r.m. auotesl Pine Point 31 75 Placer Oev. 54.25 P C. Exp 300 Quebec Man 10V; Rayrock 1 32 Radicre 3' Rio Alcom 27.J5 Roman Core 7 90 Sherritt Gordon 16.75 Steep Rock 1 57 Tek 3.63 Texmoif 30 Upper Canada 3 oo Western 370 Willrov Harareaves I 1 Zenmec INDUSTRIALS CAREERS SIMPSONS Conodo's growing reJoil business has openm-3 for COMMISSION SALES PEOPLE in the Sewing Machine and Appliance Departments JVeterence will be given lo experienced end know- iedgcoble of iHe obove. O' doitly reiafed oreo We con you on oppQTtwniTy ior above overoa" cmd o wtde tonge oJI 11 7' 37 ?7n 33 W New York stocks By RicliarAsmi Amr T Srt'h S' GW. Gi'lf II r't rri rr tl 71 50 7i U J, nf in (.7 2 '0 Efi-J- 107 31 tH df 3 IP d" I'S 1 ]r NEW YORK ?5 Wf rf< 1 j r( I i i ij r" jtl V if IPri I Home of fine Brazier Dairy Queen brazier Sfllfi 2 oim Thursday and Friday banana split BOTH LOCATIONS Regular 75c NOW ONLY be merry! ---------BOTH ishus! SOUTH SIDE 11 52 M.M. DriveS. -Phone 327-6440 NORTH SIDE st. N. 327-4355 ;