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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 26, 1973, Lethbridge, Alberta April 1973 THE LETHBRIOCE HERALD 21 TSE industrial index plunges TORONTO (CP) The To- ronto stock market's industrial irdex plunged to its lowest level of the year in moderate mid- morning trading today. The industrial index, consid- ered the major indicator of j 1' market trends, was off 97 to 218.27, golds 1.78 to 272.83 and western oils 1 82 to 234.47, an- ties .65 to 155.76 while papers gained 38 to 121.13. On the Montreal Stock Ex- change. Mercantile Bank fell 4li to Falconbridge Nickel l' 4 to Credit Fonder to S114. Woodward Stores 1J8 to and Molson B 1 to On the Canadian Stock Ex- other low for the year. Base; change. Gaspe Quebec was up metpls, however, rose 19 to j tl cents to on 10] .59. j snares. Volume by 11 a.m. was 721.-, 000 shares compared wHh 783.-: NEW YORK (AP) A 000 at the same time Wednes- slumping stock market held its dav. I ground for a short while today, Declines were well ahead of then began to slip again, advances, 161 to 86. while 1791 The noon Dow Jones average issues were unchanged j of 30 industrial stocks was off Bank, industrial mining, mer- chandising and oil refmins is- sues were lower while bever- age, communication, general manufacturing and steel were the only Industrie] sub-groups recording advances. 4.06 to 926.48 after having been ahead by more than a earlier. The index fell point more than 32 points in the week's first three sessions Declines held a 657-to-484 lead over ad- vances in moderate trading on Dome Pete fell l to S37. Inter- j the New York Stock Exchange, pool 1 to Canadian Impe- Among Canadians on the rial Bank to Falcon-1 NYSE. Seagrams dropped to hridse Nickel to S7R and Al- j Canadian Pacific goma Central ss to S153s. to Dome Mines 3A to MONTREAL fCP) All Cadillac rose li to S13 and' ar.d Inco Js to McMyre Inco Vs to SSO'i. i advanced 2 to and Massey- Facer Development rose j Ferguson to S18-M. to and Gibraltar v4 (-o i On the American exchange, V Tara slipoed H to J Canadian Javelin rose to and Rio to and Brascan Vs to Lochiel was down seven cents to 52.45 and Canadian Superior S53. Siebens gained to Livestock report Calqary livestock CALGARY (CP) Receipts tors excent paners dec'med m on the Calgary Livestock mar- liifbt trading on the Montreal j ket to 11 a.m today totalled stock market today. j j 050 head raostly siaugbter Combined volume on the Mon- cattle with the bulk steers, treal and Canadian stock ex- j Trade was strong and active changes at 11 a.m. was 272.700 with all classes of slaughter shares, compared with 260.8001 cattle and replacements meet- shares at the same time j ing a good demand. Wednesday. Slaughter steers were fully Banks dropped 3.22 to 264.96, steady to strong with sales to the composite 1.21 to 223.97. in- j 43.90 Heifers were scar r but ttostrials 1.08 to 236 57 and utili- steady for quality: cows were steady with sales to 35. Bulls 1 were steady. Al. A2 steers 42.75 to 43.70. 41 50 to 42.53. Ah A2 heifers 41 to 41.70. A3 39.75 to 40.75. Dl. D2 cows 33.25 to 34.50, 31.50 to 33, D4 27 to 31.25. Good Imported beef, meats tested for DES additive By JEFF CARRUTHERS Herald Ottawa Bureau OTTAWA The federal health department is monitoring i U.S. beef and other imported meats, to spot any meats tainted with the controversial growth promotant diethylstil- bestrol, DES. Meanwhile, Ottawa sources predict that the United States within a matter of weeks will follow the Canadian example and ban the use of DES growth- Gold prospector The soaring price of gold has lured new prospectors to the hills around Congress, Ariz. Reports indicate that heavy rains in the area have uncovered gold in long- dry streambeds. Most are weekend prospectors, but others are more serious, setting up shacks for a long stay. Simpsons stores to compete Grain prices Winnipeg grain bulls 36 to 39. Replacement WINNIPEG (CP) The mar- ket maintained its strong posi- tion at mid session today on the Winnipeg Commodity Ex- change. Flax and rapeseed continued to trade at the daily limit of 10 cents. Rye continued to ad- vance and was 3 V4 to 9 cents higher, with December gaining the most ground. Oats and bar- ley continued unchanged marginally higher. Wednesday's trading volume was bushels of flax. bushels of rye and 1, 860.000 bushels of rapeseed. Mid-session prices: Flax: May 10 higher 5.22B; July 10 higher 5.17 siB: Oct. 10 higher 5.14B: Nov. 10 higher 5.07 '4B Miscellaneous quotations Vancouver, Calgary, Montreal promoting implant pellets m beef and other livestock. DES, which has been linked with cancer in animals and hu- I' The US. to date has only banned use of DES as a feed additive Jt still allows use of DES as a pellet implant. j Canadian beef producers have i complained to Ottawa that this beef and other livestock. The effect a ban- started Jan. 1 All domestic beef raised with the aid of DES s slaughtered by the end of this us month. Handymen push retail building supply sales up TORONTO (CP) Canadians higher prices, "most people, trying to beat the high cost of houses home repair are becoming their own handymen and are helping want and are to pay for] it to the beef producers at an fvonomic disadvantage and they have suggested that cither the ban on domestic DES be lifted until a one K imposed in the or an embargo he placed on imported beef raised with DES. The stepped-up Canadian monitoring of imported mainly imoorted U.S beef and the stage for fed- eral consideration of an em- bargo against any DES-raised beef, should the U.S. not ban j DES pellets as expected. If the monitoring reveals any significant amount of meat tainted with I the govern- ment would be forced under present food regulations to pre- vent such meat from being sold in by seizing it in retail stores or wholesale by returning them. of origin food officials u t i_- j i spotted at the border _. The old-fashioned lumber; ___ to create one of the fastest- j yard is on the way out. So is i No residues of DES. which is growing businesses in the coun- j the old-fashioned hardware i1' n k e d w'ith cajlcer I The plans are in line with a. j revision made last year to a 20-: Oil tllC year-old agreement between the, two companies not to comnete; PEACE RIVER in the same city. Simpsons Ltd.'. illicit drug problem has reach- j and Scnrs. Roebuck and Co. of ed a plateau in some areas of j Oci Chicago have equal holdings in j Alberta Dr. W. G. McPhail. ___ ___ Simpsons-Sears pre5ident of the Alberta Medi-j' R ced Mr. Burton also said Simp-1 cai Association said here JOTS will spend SB million to ex- i He predicted in an interview pand and renovate its downtown that problems created by drugs' Montreal store. Other stores and alcohol will diminish in the and service facilities are in the next two years, planning stages, he raid. __I____________ Sales during the first quarter K1 of 1973 were Ys per cent ahead Net earnings of the same quarter last year. By THE CANADIAN PRESS he said. Profits were a'so ahead Powrr Ud.. year of budget and the half-year re- ended Dec 31. 1973. suit should be an improvement over last vear. He did not re- port specific figures m. WESTERN OILS AND MINES Aita East Gas Alminex Asamera Ashland BP Canada Brenda Mines Can Soutn Cdn Ex Gas Cdn Homesfd Cdn Ind Gas Oil Cdn Long Is Cdn Super HJ I Ctwrter Oils Chieftan Dome Dynasty Fort Reliance Giant Mascot Granisle Gt Plains Gt Cdn Oil S Lochiel Lytton Min Noble Mines North Cdn Oil Numac Pancdn Pete Pan Ocean Petrol Pinnacle Place Gas Ponde' Ranger Oil Scurry Rail Seibens Spooner Total Ulster West Pete W. Decalta MISCELLANEOUS INDUSTRIES Acres Ltd Aauitame BC Sugar Pfd BlocK Bros Brinco Cdn Brew A Cdn Brev B Cdn Pscific Inv Crcstbrook Ind Crowsnest Ind j Rye: May 3 sl I July 3 14 higher {3 '4 higher 1.64 higher 160B. i Grain quotes Wednesday f ba- sis Hich Low Flax 512 (Supplied by Doherty. McCvaig Limited) LAST BID OR SALE A.m. QlMles) m. Quotes) AGF Special 273 7.75 Cdn Invest F 5 21 5 71 13 Cot Mutual 585 642 700 Cmnw litter 15091653 17 00 Cmnw Lev 3 96 135 semi-processed, easy-to-handle items such as unpainted furni- ture, pre-finished mouldings and ready-to-use shelving. ation of Independent Dealers, a DES are most likely to be de- tected. In tests last year, a handful of some 800 beef livers tested in Cygnus A Cygnus B F and M Trust Genstar Hone A Home B Hud Bay Co Bay Oil Hud Bay A Pfd Hugh Russell Husky Oil Husky B Pfd S300 Husky D War Husky E War Inter Prov Inter Prov Steel Kaiser Res Loblaw C Pfd Magnasonics Pacific Pete PW Air PeBen Oilfield Rainter 'ne Royal Trust SI Maurice Cap Sandweii Teledyne 14 oo West Cdn Seed 1325 Westfield 1 Weston A Pfd .25 White Yukon .63 38 25 1525 13 48 6.55 OB 775 540 Cmnw Vent 38 50 Corp Invest 7 70 S (6 6.31 6.93 21 00 .47.50 5600 4625 21 00 4275 700 8.4) 1000 Corp Invest St F 5.20 5.71 Dreyfus F U.S. 11 41 12 50 Great Pacific 4 85 5.30 Gr In Shares 4 03 4 tt Gr Eqquity Invest Gr F Invest Mutual Mutual Ac Mutual Gr r N W Cdn N W Gr Principal Gr Royfund Temp Gr United Ac 4 Universal Sav 2725 Univest j.jO Vanguard 3 00 3050 12 7S 29.10 1100 7 25 775 .51 .80 06 1.15 50 .30 i higher 1-59, 1.62 Vc Oct. i'iB: Dec. 9 Close PIPE LINE STOCKS Alta Gas A U6: Alta Gas Pfd Alta Nat Gas Inland Nat Gas N aid C Gas N and C B Pfd Pacific Trans Gaz Wtetro Gar Metro A Trans Cda Pipt Tr Cda A Pfd 1587'A Tr Cda B Pfd itnn Trans Cda War 2 WC Trans WC Trans Wts MUTUAL FUNDS "LI 25 Al Cdr, Com 7 54 8 V 29 25 Plains Pete 8'50 A'l Cdn Vent 3 94 4 31 stampede inrl Res 70 17 25 Ami- Gr F 5 51 t 05 Western Expior 07 Toronto mines, industrials (Supplied By Richardson Securities of Canada) LAST BID OR SALE 3 ca CALGARY 2 55 Acroil Barons Ooil 23 Nortn Cont'nental jn Western Warner U 121A VANCOUVER in MINES Afton Atlas Expior 7300 Bath Norse 20.62V: Croyden 1100 Dajikoe 10.75 Davenport 2350 Dolly Varden 12 Eau'torial 4 80 Lornex 65 50 Prirrer 37 75 Pyramid 70 12'-7 Silver Standard 4125 valley Copoer 810 INDUSTRIALS 22 50 Cspt Inter t m Columbia Brew Hys Cdn Key Indust 8.42 9.25 12 72 13 91 656 6.24 686 3 75 4.J3 7.96 8.70 564 620 5.19 5.70 J 65 5.10 6.87 715 ?.26 10.21 SU 587 8.38 8.88 603 662 6 7) co-operative through which the i Canada were found to contain members can place large or-! traces of DES amounting to a ders with manufacturers to get jfew Parts per billion. Lower lev- quantity discounts "We buy els of the chemical are known to shlff a "That's more than in the field. j Of last year's S2 billion sales, j million came from lumber. The remainder was pamt, tools, plumbing supplies and a range! of non-construction hems such! as carpets, furniture and hard- J ware i hikes These estimates come from! Molson whose almost 300 Bea- ver home centres. Beaver-Ai- kenhead outlets and limited- sendee Safeway stores account for about one-quarter of the business. says. Imperial oil price of products .51 .03 02 .35 Lee Larkin. president of Cashway of Mol- son's most of his customers are "fairly so- phisticated in their knowledge of construction, know what they want and don't require informa- TORONTO (CP) Imperial Oil Ltd. announced Wednesday it has increased the price of its main products by one cent a gallon in areas east of the Ot- tawa valley. The company's posted prices for Esso gasolines, diesel, heat- In humans, DES has been linked directly with a rare form. of vaginal cancer, which hag been recorded as developing in the female offspring of mothers treated with high doses of DES to prevent termination of their pregnancy. Canadian health officials con- tinue to maintain that the prob- lem of DES resideus in beef and other meats, such as poul- try, is mainly a result of mss- j use of the product by fanners. Officials suspect that farmers are slaughtering their livestock 8.00 .16 .67 070 1 55 335 SCO tion about how to use or install i ing and turbo fuels and asphalt material." !go up one cent a gallon. And a Do-it-youreelT customers will allowance on gasoline for Quebec dealers is removed in line with recent upward com- petitive price moves. The increases are east of the national oil policy line, dividing those areas of Canada served maudy by western crude oil and those served by overseas trax-el up to 20 miles to such i.oo' j outlets, pay cash and transport I their own purchases "because I they're saving money." he says. At Molson. plans are under j way to expand outlets in shop- ping centres. "We Hjink people want nice, stores, displays, carpeting on. n the floor and sars Da-L "J vid Lakie. senior vice-president of Molson's retail merchandis- DES before the naturally elimi- treated with hormone is nated. The problem is that American farmers seem just as prone to producing livestock with DES residues in their tissues after slaughter as their Canadian counterparts. Twaits. chairman of ti Quotes) MINES Acme 504 388'i 3884 381-S a share. 1S71, Sl2.8Sl.000, Kaiser Resources Ltd. three Shareholders approved a month? ended March 31. 1973 proposed three-for-one stock loss, five cents a share; cents. 384'i. 378" Jan Rapcserd Thunder Bay Mav 362'4 369r-i Jly" 370'4 252'4 370'4 Oct 358 Xov Oals May 11-T t Ci3? Pp Hog prices EOMONTOX 'CT1 Aver- age prices to II a m today pro- vided by the Albeda Hog Pro- ducers Marketing Board Edmonton 4185 average' Wednesday 43 93 Red Deer 4195 Wednesday 43.53 Calgary 41.85 axerage Wed- nesday 4307 Lethtwidge Vrl r g e Wednesday 42.W Total hog lo 11 am 557 Total hogs soW Wednesday. 5. 970 average 4365. Sows aver- 5 1J 17 4 J5 C f Ccrni Con? 3? 17 3C 00 UT.IW Wo ?r 14 w> V "ittn 450 23 M "V3 75 S75 70 37i 55 :i 3709 US" 52 I1 17 if 37' 77 i durt the hearings to consider: t the effect of direct and indir-1 eel investment in the industry.' i inchxiing the impact on com- munities near mines: royalties: 1 national demand: coal trans- 1 portaiion methods, and use of coa? fcr gasification Beef futures WINNIPEG -Live, beef futures close Wednesday. May 42.50A: Jly 4275A Sep 41.-SON: Nov 40.30N f's volume: Six con- tracts. Nu 1' r -In Imp j Dollar value MONTREMx 'CP> V.S dofar w terms of Canadian funds at noon today was un- I changed at jf-SO. Pound slerlsng dovm 3-25 at la 49 13-50 In Xea' York, the Canadiari dollar was unchanged at 39 Pooni sierting dtrsra 31-' al 4S W-2S Gold futures close Fulurcj. r S funds. Commodity Exchange Wednesday. Apr 9000A: Jly 73 Ort 73 SW.05A. Jan, ;j _ U600A. ACT 74 9S.COA. Tuesday's 34 crm- id 17 10 A New ork stocks R5 ftfrtiarflson nf ctn imd T Chrvslw JO 7H 75 31 7; Co 5 tf F7'i 15 Vt' O'K C-V JlnflrpflDnTcry r 2S 87 j U 5 S-wi 27 47 i Giri Jt' Jt TOUONTO H.3714 K x V V AVERAGES 1 WEW AVERAGES j VI t IS.'3d VI M j j 1003 Avenue S., lefhbridge Telephone 328-4426 purcnase OT 3 gai'Ons OT more of -3 cjs'ions. or 'ess1. Complete interior and CKJenor wash S1 A-.lh 15 pai'on S1 !jOv.-i': 10-15 oflMon pur-eras" 00 with 5-10 oalion S725 v. th 3 p.'.'lon 5C 50 wrn rir> Gasoline SUPERSONIC CAR WASH 2 AV S. We hono' 3H credit cards aDr-'D-od b. er CHARGEX. ;